Wellington Management Group LLP Trims Stake in Nomad Foods Limited $NOMD

Key Points

• Wellington Management Group LLP reduced its stake in Nomad Foods Limited by 2.5% during the 1st quarter, owning approximately 1.19% of the company worth $35.9 million after selling 46,979 shares.
• Nomad Foods reported a quarterly earnings of $0.45 per share, beating analyst estimates, with a revenue of $879.27 million, reflecting a slight year-over-year decrease of 0.8%.
• The company declared a quarterly dividend of $0.17 per share, representing an annualized yield of 4.4%, with the dividend payout ratio at 46.58%.

Wellington Management Group LLP reduced its stake in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 2.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,828,768 shares of the company's stock after selling 46,979 shares during the period. Wellington Management Group LLP owned about 1.19% of Nomad Foods worth $35,935,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOMD. Summit Securities Group LLC bought a new position in shares of Nomad Foods in the first quarter valued at approximately $32,000. Johnson Financial Group Inc. bought a new position in Nomad Foods during the fourth quarter valued at $62,000. Tower Research Capital LLC TRC boosted its holdings 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 worth $107,000 after acquiring an additional 6,349 shares during the period. Lazard Asset Management LLC bought a new position in shares of Nomad Foods in the fourth quarter worth $134,000. Finally, Quarry LP boosted its holdings in shares of Nomad Foods by 964.8% in the fourth quarter. Quarry LP now owns 8,646 shares of the company's stock worth $145,000 after acquiring an additional 7,834 shares during the period. 75.26% of the stock is owned by institutional investors.

Nomad Foods Stock Down 1.0%

NYSE NOMD traded down $0.15 during mid-day trading on Thursday, reaching $15.41. The stock had a trading volume of 724,758 shares, compared to its average volume of 832,771. 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 Limited has a 1 year low of $14.72 and a 1 year high of $20.81. The stock has a market cap of $2.36 billion, a PE ratio of 10.55 and a beta of 0.72. The company has a fifty day moving average price of $16.70 and a 200 day moving average price of $18.06.

Nomad Foods (NYSE:NOMD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The business had revenue of $879.27 million during the quarter, compared to the consensus estimate of $762.81 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The firm's revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. On average, research analysts expect that Nomad Foods Limited will post 1.82 earnings per share for the current 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 issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, August 11th. Nomad Foods's dividend payout ratio is 46.58%.

Analyst Ratings Changes

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

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.