Nomad Foods Limited $NOMD Shares Sold by T. Rowe Price Investment Management Inc.

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. lowered its stake in Nomad Foods Limited (NYSE:NOMD - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,076,826 shares of the company's stock after selling 99,385 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 2.66% of Nomad Foods worth $80,110,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Summit Securities Group LLC purchased a new stake in Nomad Foods during the first quarter valued at about $32,000. Johnson Financial Group Inc. purchased a new stake in Nomad Foods in the fourth quarter worth $62,000. Tower Research Capital LLC TRC increased its position in shares of Nomad Foods by 13,508.5% during 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 period. Lazard Asset Management LLC bought a new position in shares of Nomad Foods in the 4th quarter worth approximately $134,000. Finally, Quarry LP lifted its position in Nomad Foods by 964.8% during 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 period. Hedge funds and other institutional investors own 75.26% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on NOMD shares. Barclays dropped their target price on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Mizuho decreased their target price on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Finally, Wall Street Zen cut shares of Nomad Foods from a "buy" rating to a "hold" rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $20.33.

Nomad Foods Price Performance

NYSE NOMD traded down $0.21 during mid-day trading on Thursday, hitting $15.36. The stock had a trading volume of 152,410 shares, compared to its average volume of 829,182. Nomad Foods Limited has a twelve month low of $14.72 and a twelve month high of $20.81. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 10.51 and a beta of 0.72. The firm's 50 day moving average is $16.70 and its 200 day moving average is $18.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63.

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

Nomad Foods Dividend Announcement

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

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.