Wellington Management Group LLP Trims Position in Nomad Foods Limited (NYSE:NOMD)

Wellington Management Group LLP lessened its stake in Nomad Foods Limited (NYSE:NOMD - Free Report) by 1.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,875,747 shares of the company's stock after selling 31,115 shares during the period. Wellington Management Group LLP owned about 1.22% of Nomad Foods worth $31,475,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new stake in shares of Nomad Foods during the 4th quarter worth $62,000. Blue Trust Inc. raised its holdings in shares of Nomad Foods by 70.6% in the fourth quarter. Blue Trust Inc. now owns 3,500 shares of the company's stock valued at $59,000 after buying an additional 1,448 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Nomad Foods by 21.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,757 shares of the company's stock valued at $63,000 after buying an additional 670 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Nomad Foods in the fourth quarter valued at about $76,000. Finally, R Squared Ltd purchased a new stake in shares of Nomad Foods in the fourth quarter valued at about $83,000. Institutional investors and hedge funds own 75.26% of the company's stock.

Nomad Foods Stock Performance

NOMD remained flat at $17.20 on Wednesday. 227,395 shares of the company's stock traded hands, compared to its average volume of 665,165. The company has a quick ratio of 0.72, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. The business has a fifty day moving average price of $18.86 and a two-hundred day moving average price of $18.22. Nomad Foods Limited has a one year low of $15.43 and a one year high of $20.81. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 12.93 and a beta of 0.81.

Nomad Foods (NYSE:NOMD - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). Nomad Foods had a return on equity of 10.38% and a net margin of 6.54%. The company had revenue of $822.31 million for the quarter, compared to analyst estimates of $769.39 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company's quarterly revenue was down 3.0% compared to the same quarter last year. Analysts forecast that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 12th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Monday, May 12th. Nomad Foods's payout ratio is 45.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Nomad Foods from $19.00 to $23.00 and gave the stock an "overweight" rating in a research note on Monday, March 3rd. 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. Finally, Wall Street Zen lowered shares of Nomad Foods from a "buy" rating to a "hold" rating in a research note on Friday, May 9th.

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.