Envestnet Asset Management Inc. Sells 15,227 Shares of Nomad Foods Limited (NYSE:NOMD)

Envestnet Asset Management Inc. trimmed its stake in Nomad Foods Limited (NYSE:NOMD) by 5.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 253,112 shares of the company’s stock after selling 15,227 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of Nomad Foods worth $4,247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. lifted its position in Nomad Foods by 70.6% in 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 last quarter. Parkside Financial Bank & Trust raised 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 valued at $63,000 after acquiring an additional 670 shares during the period. Headlands Technologies LLC bought a new stake in shares of Nomad Foods in the 4th quarter worth about $76,000. R Squared Ltd purchased a new position in shares of Nomad Foods during the 4th quarter worth about $83,000. Finally, Venturi Wealth Management LLC bought a new position in Nomad Foods during the 4th quarter valued at about $124,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Nomad Foods Price Performance

Nomad Foods stock opened at $19.65 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 14.77 and a beta of 0.83. The firm has a 50-day moving average of $19.37 and a two-hundred day moving average of $18.01. Nomad Foods Limited has a 1 year low of $15.43 and a 1 year high of $20.81.

Nomad Foods Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were issued a $0.17 dividend. This is a positive change from Nomad Foods’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.46%. Nomad Foods’s payout ratio is presently 45.03%.

Analysts Set New Price Targets

NOMD has been the subject of several analyst reports. Barclays raised their price objective 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. StockNews.com upgraded Nomad Foods from a “buy” rating to a “strong-buy” rating in a report on Friday, April 11th. Finally, Mizuho upped their price objective on Nomad Foods from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th.

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.