JPMorgan Chase & Co. Lowers Holdings in Nomad Foods Limited $NOMD

JPMorgan Chase & Co. cut its holdings in Nomad Foods Limited (NYSE:NOMD) by 89.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,530 shares of the company’s stock after selling 94,341 shares during the period. JPMorgan Chase & Co.’s holdings in Nomad Foods were worth $152,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new position in Nomad Foods in the 3rd quarter worth approximately $43,000. Mondrian Investment Partners LTD purchased a new position in Nomad Foods in the 3rd quarter worth approximately $44,000. Osaic Holdings Inc. lifted its holdings in Nomad Foods by 87.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after purchasing an additional 1,240 shares in the last quarter. Arizona PSPRS Trust purchased a new position in Nomad Foods in the 3rd quarter worth approximately $121,000. Finally, Virtu Financial LLC purchased a new position in Nomad Foods in the 3rd quarter worth approximately $144,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOMD has been the topic of a number of research analyst reports. Weiss Ratings cut Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. BTIG Research reduced their price objective 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 research note on Monday, March 2nd. Barclays reduced their price objective on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a research note on Monday, March 30th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.50.

Nomad Foods Stock Performance

NYSE:NOMD opened at $9.73 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 0.66. Nomad Foods Limited has a 1 year low of $9.43 and a 1 year high of $20.29. The stock’s 50 day simple moving average is $10.69 and its two-hundred day simple moving average is $11.68. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 9.53 and a beta of 0.74.

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 $0.17 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.68 dividend on an annualized basis and a yield of 7.0%. Nomad Foods’s payout ratio is presently 66.67%.

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.