Invenomic Capital Management LP Decreases Holdings in Nomad Foods Limited (NYSE:NOMD)

Invenomic Capital Management LP cut its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,368,763 shares of the company's stock after selling 163,946 shares during the period. Nomad Foods accounts for about 1.1% of Invenomic Capital Management LP's portfolio, making the stock its 20th largest holding. Invenomic Capital Management LP owned approximately 0.84% of Nomad Foods worth $22,968,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its holdings in shares of Nomad Foods by 21.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,757 shares of the company's stock worth $63,000 after acquiring an additional 670 shares during the last quarter. Legal & General Group Plc raised its position in Nomad Foods by 3.3% in the fourth quarter. Legal & General Group Plc now owns 25,392 shares of the company's stock valued at $426,000 after purchasing an additional 800 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Nomad Foods by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,320 shares of the company's stock worth $1,650,000 after purchasing an additional 1,270 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Nomad Foods by 70.6% during the fourth quarter. Blue Trust Inc. now owns 3,500 shares of the company's stock worth $59,000 after buying an additional 1,448 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in shares of Nomad Foods by 5.2% during the fourth quarter. Handelsbanken Fonder AB now owns 42,800 shares of the company's stock worth $718,000 after buying an additional 2,100 shares during the period. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NOMD shares. Barclays boosted their price objective on Nomad Foods from $19.00 to $23.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. StockNews.com lowered shares of Nomad Foods from a "buy" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Mizuho raised their price objective on shares of Nomad Foods from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th.

Nomad Foods Stock Down 2.7%

Shares of NYSE NOMD traded down $0.49 during mid-day trading on Wednesday, hitting $17.91. The company had a trading volume of 1,544,045 shares, compared to its average volume of 656,888. The company has a market capitalization of $2.75 billion, a PE ratio of 13.47 and a beta of 0.81. The business's 50-day simple moving average is $19.47 and its 200 day simple moving average is $18.17. Nomad Foods Limited has a 1-year low of $15.43 and a 1-year high of $20.81. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72.

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

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 12th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Monday, May 12th. Nomad Foods's dividend payout ratio is presently 45.33%.

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.