40,000 Shares in Nomad Foods Limited $NOMD Bought by American Assets Inc.

American Assets Inc. purchased a new stake in shares of Nomad Foods Limited (NYSE:NOMD) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 40,000 shares of the company’s stock, valued at approximately $526,000. Nomad Foods accounts for about 0.2% of American Assets Inc.’s portfolio, making the stock its 24th biggest position.

A number of other hedge funds have also recently made changes to their positions in the business. Royal Bank of Canada raised its stake in Nomad Foods by 9.2% during the 1st quarter. Royal Bank of Canada now owns 143,968 shares of the company’s stock valued at $2,829,000 after purchasing an additional 12,131 shares during the period. Millennium Management LLC raised its position in shares of Nomad Foods by 81.3% during the first quarter. Millennium Management LLC now owns 656,686 shares of the company’s stock valued at $12,904,000 after buying an additional 294,386 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Nomad Foods by 50.2% in the first quarter. Jane Street Group LLC now owns 75,847 shares of the company’s stock worth $1,490,000 after buying an additional 25,358 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Nomad Foods by 3.5% during the second quarter. Vontobel Holding Ltd. now owns 20,417 shares of the company’s stock worth $347,000 after acquiring an additional 688 shares during the last quarter. Finally, Inspire Investing LLC purchased a new position in Nomad Foods during the second quarter valued at $237,000. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Trading Up 0.4%

Shares of NOMD opened at $12.91 on Friday. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 8.97 and a beta of 0.72. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.59. Nomad Foods Limited has a 1-year low of $11.04 and a 1-year high of $20.81. The company has a 50-day moving average of $12.29 and a 200 day moving average of $13.23.

Nomad Foods (NYSE:NOMD) last issued its earnings results on Thursday, November 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company had revenue of $881.94 million for 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 business’s revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. On average, research analysts expect that Nomad Foods Limited will post 1.82 EPS for the current year.

Nomad Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.3%. Nomad Foods’s dividend payout ratio is presently 47.22%.

Analysts Set New Price Targets

Several research analysts have commented on NOMD shares. Zacks Research raised shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. BTIG Research restated a “buy” rating and set a $18.00 price target on shares of Nomad Foods in a report on Monday, November 10th. Mizuho reduced their price objective on Nomad Foods from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a report on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Nomad Foods Profile

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.