Allspring Global Investments Holdings LLC Lowers Position in Nomad Foods Limited $NOMD

Allspring Global Investments Holdings LLC trimmed its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 10.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,618,807 shares of the company’s stock after selling 628,692 shares during the period. Allspring Global Investments Holdings LLC owned 3.66% of Nomad Foods worth $68,325,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tidal Investments LLC grew its position in shares of Nomad Foods by 1.9% during the second quarter. Tidal Investments LLC now owns 38,037 shares of the company’s stock valued at $646,000 after purchasing an additional 726 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Nomad Foods by 3.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 30,987 shares of the company’s stock valued at $407,000 after buying an additional 939 shares during the last quarter. California Public Employees Retirement System boosted its stake in Nomad Foods by 0.4% during the second quarter. California Public Employees Retirement System now owns 268,627 shares of the company’s stock valued at $4,564,000 after buying an additional 1,044 shares during the last quarter. Osaic Holdings Inc. grew its holdings in Nomad Foods by 87.4% during the 2nd 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 in the last quarter. Finally, Legend Financial Advisors Inc. grew its holdings in Nomad Foods by 3.4% during the 3rd quarter. Legend Financial Advisors Inc. now owns 41,689 shares of the company’s stock valued at $548,000 after buying an additional 1,362 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

Nomad Foods Stock Performance

NYSE NOMD opened at $9.61 on Wednesday. The company has a market cap of $1.37 billion, a P/E ratio of 9.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.07. The business’s 50 day moving average price is $11.40 and its 200-day moving average price is $11.99. Nomad Foods Limited has a fifty-two week low of $9.43 and a fifty-two week high of $20.29.

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, February 11th. This represents a $0.68 dividend on an annualized basis and a yield of 7.1%. Nomad Foods’s payout ratio is 66.67%.

Analysts Set New Price Targets

Several analysts have recently issued reports on NOMD shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a report on Monday. Zacks Research cut shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Barclays decreased 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. Weiss Ratings lowered shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Finally, Mizuho dropped their price objective on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.75.

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.