Townsend & Associates Inc Has $12.98 Million Position in Nomad Foods Limited $NOMD

Key Points

• Townsend & Associates Inc has significantly reduced its stake in Nomad Foods Limited by 55.4%, now holding approximately $12.98 million worth of shares after selling nearly 896,000 shares in the 2nd quarter.
• Nomad Foods recently reported a quarterly earnings of $0.45 EPS, surpassing analysts' expectations, but its revenue of $879.27 million was down 0.8% year-over-year.
• The company declared a quarterly dividend of $0.17 per share, yielding 5.6%, with a payout ratio of 46.58% as of the latest announcement.

Townsend & Associates Inc reduced its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 55.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 721,762 shares of the company's stock after selling 895,704 shares during the period. Townsend & Associates Inc owned approximately 0.47% of Nomad Foods worth $12,977,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Mutual of America Capital Management LLC lifted its holdings in Nomad Foods by 4.2% in the second quarter. Mutual of America Capital Management LLC now owns 208,856 shares of the company's stock valued at $3,548,000 after buying an additional 8,514 shares during the period. VELA Investment Management LLC lifted its holdings in Nomad Foods by 27.8% in the second quarter. VELA Investment Management LLC now owns 74,000 shares of the company's stock valued at $1,257,000 after buying an additional 16,100 shares during the period. Kiker Wealth Management LLC acquired a new position in Nomad Foods in the second quarter valued at approximately $1,448,000. Meritage Portfolio Management acquired a new position in Nomad Foods in the second quarter valued at approximately $6,599,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Nomad Foods by 2.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,048 shares of the company's stock valued at $511,000 after buying an additional 690 shares during the period. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Trading Up 1.1%

Shares of NYSE:NOMD opened at $12.21 on Monday. Nomad Foods Limited has a 12 month low of $11.86 and a 12 month high of $20.81. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. The company's fifty day simple moving average is $13.99 and its 200 day simple moving average is $16.57. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 8.36 and a beta of 0.70.

Nomad Foods (NYSE:NOMD - Get Free Report) last issued 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 net margin of 6.93% and a return on equity of 10.26%. The business had revenue of $879.27 million for the quarter, compared to analyst estimates of $762.81 million. During the same period last year, the business posted $0.44 earnings per share. The firm's quarterly revenue was down .8% on a year-over-year basis. As a group, research analysts forecast that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Monday, August 11th. Nomad Foods's dividend payout ratio (DPR) is presently 46.58%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NOMD shares. Zacks Research lowered shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a report on Monday, September 29th. BTIG Research cut their target price on shares of Nomad Foods from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Barclays cut their target price on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nomad Foods in a report on Wednesday, October 8th. Finally, Mizuho cut their target price on shares of Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $19.75.

Nomad Foods 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.

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