Sound Income Strategies LLC Boosts Position in Nomad Foods Limited (NYSE:NOMD)

Sound Income Strategies LLC grew its position in Nomad Foods Limited (NYSE:NOMD - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,767 shares of the company's stock after buying an additional 14,907 shares during the period. Sound Income Strategies LLC owned 0.12% of Nomad Foods worth $3,532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thompson Investment Management Inc. acquired a new position in Nomad Foods in the first quarter valued at about $4,237,000. SG Americas Securities LLC purchased a new stake in shares of Nomad Foods in the 1st quarter valued at $530,000. Farther Finance Advisors LLC acquired a new position in Nomad Foods during the 1st quarter worth about $300,000. Fenimore Asset Management Inc boosted its holdings in Nomad Foods by 0.9% during the 1st quarter. Fenimore Asset Management Inc now owns 1,044,764 shares of the company's stock valued at $20,530,000 after acquiring an additional 9,720 shares during the period. Finally, Congress Asset Management Co. acquired a new position in Nomad Foods in the 1st quarter valued at about $7,383,000. Institutional investors and hedge funds own 75.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NOMD shares. Wall Street Zen cut shares of Nomad Foods from a "buy" rating to a "hold" rating in a research report on Friday, May 9th. Barclays increased their target price on shares of Nomad Foods from $19.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. Finally, Mizuho boosted their price target on shares of Nomad Foods from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th.

Nomad Foods Stock Up 1.2%

Shares of Nomad Foods stock traded up $0.21 on Wednesday, reaching $17.16. 825,353 shares of the company were exchanged, compared to its average volume of 673,597. The stock's 50 day moving average price is $18.44 and its 200-day moving average price is $18.19. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.66. Nomad Foods Limited has a 1-year low of $15.43 and a 1-year high of $20.81. The company has a market cap of $2.63 billion, a P/E ratio of 11.44 and a beta of 0.75.

Nomad Foods (NYSE:NOMD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Nomad Foods had a return on equity of 10.60% and a net margin of 7.35%. The firm had revenue of $822.31 million for the quarter, compared to analyst estimates of $769.39 million. During the same quarter last year, the firm earned $0.37 EPS. The company's revenue was down 3.0% on a year-over-year basis. As a group, equities analysts forecast that Nomad Foods Limited will post 1.82 EPS for the current year.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 12th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.96%. The ex-dividend date was Monday, May 12th. Nomad Foods's dividend payout ratio (DPR) is presently 45.33%.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.