Nomad Foods Limited (NYSE:NOMD) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its position in shares of Nomad Foods Limited (NYSE:NOMD) by 17.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,200 shares of the company’s stock after selling 7,600 shares during the period. Handelsbanken Fonder AB’s holdings in Nomad Foods were worth $692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its position in 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 last quarter. Legal & General Group Plc lifted 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 acquiring an additional 800 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Nomad Foods by 1.3% in 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 during the last quarter. PNC Financial Services Group Inc. lifted its position in Nomad Foods by 10.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 27,333 shares of the company’s stock valued at $459,000 after acquiring an additional 2,535 shares during the last quarter. Finally, Penn Capital Management Company LLC lifted its position in Nomad Foods by 10.1% in the fourth quarter. Penn Capital Management Company LLC now owns 30,904 shares of the company’s stock valued at $519,000 after acquiring an additional 2,835 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Nomad Foods Price Performance

Shares of NYSE:NOMD opened at $17.13 on Monday. The company has a 50-day simple moving average of $18.51 and a 200-day simple moving average of $18.20. 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 quick ratio of 0.72 and a current ratio of 1.20. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 12.88 and a beta of 0.75.

Nomad Foods (NYSE:NOMD) last posted its quarterly 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 firm had revenue of $822.31 million for 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 company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 earnings per share. On average, analysts predict that Nomad Foods Limited will post 1.82 EPS for the current year.

Nomad Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 12th were issued a dividend of $0.17 per share. The ex-dividend date was Monday, May 12th. This represents a $0.68 annualized dividend and a yield of 3.97%. Nomad Foods’s dividend payout ratio is currently 45.33%.

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.