Congress Asset Management Co. Sells 52,593 Shares of Nomad Foods Limited $NOMD

Congress Asset Management Co. trimmed its position in shares of Nomad Foods Limited (NYSE:NOMD) by 14.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 321,552 shares of the company’s stock after selling 52,593 shares during the period. Congress Asset Management Co. owned about 0.21% of Nomad Foods worth $4,228,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NOMD. Perpetual Ltd increased its holdings in Nomad Foods by 115.6% during the 3rd quarter. Perpetual Ltd now owns 1,181,555 shares of the company’s stock valued at $15,537,000 after purchasing an additional 633,650 shares during the period. Corient Private Wealth LLC bought a new stake in shares of Nomad Foods in the 2nd quarter worth approximately $321,000. Osaic Holdings Inc. increased its stake in shares of Nomad Foods by 87.4% during the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock valued at $45,000 after buying an additional 1,240 shares during the period. State of Wyoming increased its stake in shares of Nomad Foods by 88.5% during the second quarter. State of Wyoming now owns 17,844 shares of the company’s stock valued at $303,000 after buying an additional 8,378 shares during the period. Finally, Headlands Technologies LLC raised its holdings in shares of Nomad Foods by 1,342.3% during the second quarter. Headlands Technologies LLC now owns 14,899 shares of the company’s stock valued at $253,000 after acquiring an additional 13,866 shares in the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Nomad Foods Stock Performance

Shares of Nomad Foods stock opened at $12.59 on Tuesday. Nomad Foods Limited has a 12 month low of $11.04 and a 12 month high of $20.81. The firm has a market capitalization of $1.93 billion, a P/E ratio of 8.74 and a beta of 0.73. The company has a current ratio of 1.02, a quick ratio of 0.59 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $12.07 and a two-hundred day simple moving average of $14.41.

Nomad Foods (NYSE:NOMD) last released its earnings results on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The business had revenue of $881.94 million during the quarter, compared to analysts’ expectations of $760.75 million. Nomad Foods had a return on equity of 9.73% and a net margin of 6.56%.The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. On average, equities analysts forecast that Nomad Foods Limited will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 10th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Monday, November 10th. Nomad Foods’s dividend payout ratio (DPR) is presently 47.22%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NOMD. BTIG Research reiterated a “buy” rating and issued a $18.00 price target on shares of Nomad Foods in a report on Monday, November 10th. Zacks Research cut shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Nomad Foods in a research report on Friday, October 31st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Nomad Foods currently has a consensus rating of “Hold” and a consensus price target of $18.67.

About Nomad Foods

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.