Bank of America Corp DE Decreases Stake in Nomad Foods Limited (NYSE:NOMD)

Bank of America Corp DE lessened its holdings in shares of Nomad Foods Limited (NYSE:NOMD) by 15.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,371,509 shares of the company’s stock after selling 256,554 shares during the quarter. Bank of America Corp DE owned about 0.84% of Nomad Foods worth $23,014,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Parkside Financial Bank & Trust grew its holdings in Nomad Foods by 21.7% during the 4th 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 in the last quarter. Legal & General Group Plc grew its stake in Nomad Foods by 3.3% during the fourth quarter. Legal & General Group Plc now owns 25,392 shares of the company’s stock valued at $426,000 after acquiring an additional 800 shares in the last quarter. Price T Rowe Associates Inc. MD grew 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 valued at $1,650,000 after acquiring an additional 1,270 shares in the last quarter. Blue Trust Inc. increased its holdings in Nomad Foods by 70.6% during the 4th quarter. Blue Trust Inc. now owns 3,500 shares of the company’s stock worth $59,000 after acquiring an additional 1,448 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in Nomad Foods by 5.2% in the 4th quarter. Handelsbanken Fonder AB now owns 42,800 shares of the company’s stock worth $718,000 after purchasing an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Nomad Foods Price Performance

NOMD stock opened at $18.14 on Monday. The firm has a 50 day simple moving average of $19.34 and a two-hundred day simple moving average of $18.18. The stock has a market cap of $2.78 billion, a PE ratio of 13.64 and a beta of 0.81. Nomad Foods Limited has a one year low of $15.43 and a one 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) last announced its earnings results on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $822.31 million during the quarter, compared to analysts’ expectations of $769.39 million. Nomad Foods had a return on equity of 10.38% and a net margin of 6.54%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. On average, analysts predict that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 12th will be given a $0.17 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.68 dividend on an annualized basis and a yield of 3.75%. Nomad Foods’s payout ratio is 45.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NOMD shares. Mizuho boosted their price target on shares of Nomad Foods from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Barclays boosted their target price on Nomad Foods from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Finally, StockNews.com cut Nomad Foods from a “buy” rating to a “hold” rating in a report on Friday, May 9th.

About Nomad Foods

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.