Atlantic Investment Management Inc. Makes New Investment in Nomad Foods Limited $NOMD

Atlantic Investment Management Inc. acquired a new stake in shares of Nomad Foods Limited (NYSE:NOMD) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 722,000 shares of the company’s stock, valued at approximately $9,494,000. Nomad Foods makes up about 5.5% of Atlantic Investment Management Inc.’s portfolio, making the stock its 8th biggest position. Atlantic Investment Management Inc. owned approximately 0.47% of Nomad Foods at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NOMD. Boston Partners lifted its stake in shares of Nomad Foods by 40.3% in the 2nd quarter. Boston Partners now owns 14,323,433 shares of the company’s stock valued at $243,276,000 after purchasing an additional 4,114,150 shares during the period. Polaris Capital Management LLC grew its stake in Nomad Foods by 138.8% in the third quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock worth $45,261,000 after purchasing an additional 2,000,400 shares during the period. Norges Bank purchased a new stake in Nomad Foods in the second quarter worth $15,603,000. Royce & Associates LP raised its holdings in Nomad Foods by 45.4% in the third quarter. Royce & Associates LP now owns 2,451,806 shares of the company’s stock worth $32,241,000 after purchasing an additional 765,690 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in Nomad Foods by 164.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,195,533 shares of the company’s stock worth $20,312,000 after purchasing an additional 742,813 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Nomad Foods Trading Up 3.1%

Nomad Foods stock opened at $9.85 on Friday. Nomad Foods Limited has a 12 month low of $9.54 and a 12 month high of $20.29. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 9.65 and a beta of 0.74. The business’s fifty day simple moving average is $11.91 and its two-hundred day simple moving average is $12.44. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Wednesday, February 11th. Nomad Foods’s dividend payout ratio (DPR) is currently 66.67%.

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.