Raymond James & Associates Sells 2,474 Shares of Nomad Foods Limited (NYSE:NOMD)

Raymond James & Associates reduced its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 71,326 shares of the company’s stock after selling 2,474 shares during the quarter. Raymond James & Associates’ holdings in Nomad Foods were worth $1,209,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new stake in Nomad Foods in the third quarter worth $835,000. Paradice Investment Management LLC lifted its stake in Nomad Foods by 13.9% in the third quarter. Paradice Investment Management LLC now owns 2,522,621 shares of the company’s stock worth $38,394,000 after purchasing an additional 307,496 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Nomad Foods by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 842,880 shares of the company’s stock worth $12,829,000 after purchasing an additional 28,210 shares during the last quarter. Townsend & Associates Inc lifted its stake in Nomad Foods by 54.1% in the third quarter. Townsend & Associates Inc now owns 693,791 shares of the company’s stock worth $10,559,000 after purchasing an additional 243,640 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in Nomad Foods by 10.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,121,741 shares of the company’s stock worth $17,073,000 after purchasing an additional 104,920 shares during the last quarter. 75.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Barclays boosted their price target on shares of Nomad Foods from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd.

Nomad Foods Price Performance

NOMD stock opened at $18.56 on Friday. The firm’s 50-day moving average price is $18.92 and its two-hundred day moving average price is $17.17. Nomad Foods Limited has a 12-month low of $13.56 and a 12-month high of $20.05. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 15.09 and a beta of 0.75. The company has a current ratio of 1.13, a quick ratio of 0.70 and a debt-to-equity ratio of 0.82.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Nomad Foods had a net margin of 6.34% and a return on equity of 10.41%. The firm had revenue of $761.00 million for the quarter, compared to analysts’ expectations of $766.56 million. During the same quarter in the previous year, the company earned $0.34 earnings per share. As a group, equities analysts predict that Nomad Foods Limited will post 1.91 earnings per share for the current year.

Nomad Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Thursday, February 8th. Nomad Foods’s dividend payout ratio (DPR) is presently 48.78%.

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.