Entropy Technologies LP Purchases Shares of 20,621 Nomad Foods Limited (NYSE:NOMD)

Entropy Technologies LP purchased a new stake in Nomad Foods Limited (NYSE:NOMD) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 20,621 shares of the company’s stock, valued at approximately $405,000.

A number of other institutional investors and hedge funds have also modified their holdings of NOMD. Legal & General Group Plc raised its holdings in Nomad Foods by 3.3% in the 4th quarter. Legal & General Group Plc now owns 25,392 shares of the company’s stock worth $426,000 after acquiring an additional 800 shares during the period. Factorial Partners LLC increased its stake in shares of Nomad Foods by 0.5% in the first quarter. Factorial Partners LLC now owns 192,100 shares of the company’s stock worth $3,775,000 after purchasing an additional 1,000 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Nomad Foods by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,320 shares of the company’s stock worth $1,650,000 after purchasing an additional 1,270 shares during the last quarter. Penn Capital Management Company LLC boosted its stake in Nomad Foods by 10.1% during the 4th quarter. Penn Capital Management Company LLC now owns 30,904 shares of the company’s stock valued at $519,000 after purchasing an additional 2,835 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in Nomad Foods in the 4th quarter valued at approximately $62,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Trading Up 0.9%

Nomad Foods stock opened at $15.35 on Thursday. The business has a 50 day moving average price of $17.08 and a two-hundred day moving average price of $18.22. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. Nomad Foods Limited has a 12 month low of $14.87 and a 12 month high of $20.81. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 10.51 and a beta of 0.72.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $879.27 million for the quarter, compared to analysts’ expectations of $762.81 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%. Nomad Foods’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, equities analysts forecast 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 Tuesday, August 26th. Investors of record on Monday, August 11th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, August 11th. Nomad Foods’s dividend payout ratio is 46.58%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NOMD. Barclays cut their price target on Nomad Foods from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Mizuho cut their target price on shares of Nomad Foods from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Wall Street Zen lowered shares of Nomad Foods from a “buy” rating to a “hold” rating in a research report on Friday, May 9th.

Nomad Foods Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.