T. Rowe Price Investment Management Inc. Sells 99,385 Shares of Nomad Foods Limited $NOMD

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Nomad Foods Limited by 2.4% during the first quarter, now owning approximately 4.08 million shares valued at $80.1 million.
• Nomad Foods declared a quarterly dividend of $0.17 per share, with a dividend yield of 4.4% and a payout ratio of 46.58%.
• The company's recent quarterly earnings surpassed estimates, reporting an EPS of $0.45, up from $0.44 year-over-year, although revenue showed a slight decline of 0.8% compared to the previous year.

T. Rowe Price Investment Management Inc. trimmed its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,076,826 shares of the company's stock after selling 99,385 shares during the period. T. Rowe Price Investment Management Inc. owned 2.66% of Nomad Foods worth $80,110,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of Nomad Foods in the first quarter valued at approximately $32,000. Johnson Financial Group Inc. acquired a new stake in shares of Nomad Foods in the fourth quarter valued at approximately $62,000. Tower Research Capital LLC TRC lifted its position in shares of Nomad Foods by 13,508.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,396 shares of the company's stock valued at $107,000 after buying an additional 6,349 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Nomad Foods in the fourth quarter valued at approximately $134,000. Finally, Quarry LP lifted its position in shares of Nomad Foods by 964.8% in the fourth quarter. Quarry LP now owns 8,646 shares of the company's stock valued at $145,000 after buying an additional 7,834 shares during the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

Nomad Foods Price Performance

Nomad Foods stock traded up $0.13 during mid-day trading on Wednesday, reaching $15.56. 269,041 shares of the company were exchanged, compared to its average volume of 832,404. The company has a fifty day simple moving average of $16.73 and a 200-day simple moving average of $18.08. Nomad Foods Limited has a 12 month low of $14.72 and a 12 month high of $20.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63. The firm has a market cap of $2.39 billion, a PE ratio of 10.65 and a beta of 0.72.

Nomad Foods (NYSE:NOMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.The firm had revenue of $879.27 million for the quarter, compared to analyst estimates of $762.81 million. During the same quarter last year, the company earned $0.44 EPS. The company's revenue was down .8% on a year-over-year basis. As a group, equities research analysts expect that Nomad Foods Limited will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Monday, August 11th. Nomad Foods's dividend payout ratio (DPR) is 46.58%.

Analysts Set New Price Targets

NOMD has been the subject of a number of recent analyst reports. Barclays cut their price objective on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Wall Street Zen cut Nomad Foods from a "buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, Mizuho dropped their price target on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $20.33.

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.