Norges Bank Takes $27.39 Million Position in Nomad Foods Limited (NYSE:NOMD)

Norges Bank purchased a new position in Nomad Foods Limited (NYSE:NOMD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,632,077 shares of the company’s stock, valued at approximately $27,386,000. Norges Bank owned approximately 1.00% of Nomad Foods as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its stake 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 worth $63,000 after acquiring an additional 670 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Nomad Foods by 61.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock valued at $40,000 after purchasing an additional 800 shares in the last quarter. State Street Corp boosted its stake in Nomad Foods by 0.6% during the 3rd quarter. State Street Corp now owns 182,004 shares of the company’s stock worth $3,469,000 after purchasing an additional 1,018 shares during the last quarter. Blue Trust Inc. grew its holdings 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 in the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in shares of Nomad Foods by 4.2% in the third quarter. Orion Portfolio Solutions LLC now owns 38,688 shares of the company’s stock valued at $737,000 after buying an additional 1,552 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NOMD. Mizuho upped 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. Barclays upped their price target on Nomad Foods from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd.

Nomad Foods Trading Down 2.5 %

Shares of NOMD opened at $19.40 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $18.92 and a 200 day moving average price of $17.96. Nomad Foods Limited has a 12-month low of $15.43 and a 12-month high of $20.81. The firm has a market capitalization of $2.98 billion, a P/E ratio of 14.59 and a beta of 0.83.

Nomad Foods Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.51%. This is an increase from Nomad Foods’s previous quarterly dividend of $0.15. Nomad Foods’s dividend payout ratio (DPR) is currently 45.03%.

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.