Victory Capital Management Inc. Sells 785,717 Shares of Nomad Foods Limited $NOMD

Victory Capital Management Inc. trimmed its holdings in Nomad Foods Limited (NYSE:NOMD) by 32.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,654,965 shares of the company’s stock after selling 785,717 shares during the quarter. Victory Capital Management Inc. owned about 1.08% of Nomad Foods worth $21,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Osaic Holdings Inc. grew its holdings in Nomad Foods by 87.4% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after purchasing an additional 1,240 shares during the period. Mondrian Investment Partners LTD purchased a new position in shares of Nomad Foods during the third quarter valued at approximately $44,000. PAX Financial Group LLC purchased a new position in shares of Nomad Foods during the second quarter valued at approximately $212,000. Cetera Investment Advisers bought a new stake in shares of Nomad Foods in the 2nd quarter worth approximately $221,000. Finally, R Squared Ltd bought a new stake in shares of Nomad Foods in the 3rd quarter worth approximately $184,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Nomad Foods Price Performance

Shares of NYSE NOMD opened at $10.13 on Tuesday. The firm has a market cap of $1.44 billion, a P/E ratio of 9.93 and a beta of 0.74. Nomad Foods Limited has a twelve month low of $9.82 and a twelve month high of $20.80. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.90. The company has a 50 day moving average of $12.11 and a 200 day moving average of $12.58.

Nomad Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th were paid a $0.17 dividend. The ex-dividend date was Wednesday, February 11th. This represents a $0.68 annualized dividend and a dividend yield of 6.7%. Nomad Foods’s payout ratio is currently 66.67%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Weiss Ratings lowered Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Mizuho dropped their target price on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. BTIG Research cut their target price on Nomad Foods from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Zacks Research downgraded Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, Barclays dropped their price target on shares of Nomad Foods from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.67.

Nomad Foods Company 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.