Nomad Foods Limited $NOMD Holdings Trimmed by Oak Ridge Investments LLC

Oak Ridge Investments LLC trimmed its position in shares of Nomad Foods Limited (NYSE:NOMD) by 4.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 133,425 shares of the company’s stock after selling 6,908 shares during the quarter. Oak Ridge Investments LLC’s holdings in Nomad Foods were worth $2,267,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOMD. GAMMA Investing LLC grew its position in Nomad Foods by 2,002.9% during the 1st quarter. GAMMA Investing LLC now owns 14,973 shares of the company’s stock worth $294,000 after purchasing an additional 14,261 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in shares of Nomad Foods during the 1st quarter valued at $300,000. SG Americas Securities LLC purchased a new position in shares of Nomad Foods during the 1st quarter valued at $530,000. Sound Income Strategies LLC grew its holdings in shares of Nomad Foods by 9.0% during the 1st quarter. Sound Income Strategies LLC now owns 179,767 shares of the company’s stock valued at $3,532,000 after acquiring an additional 14,907 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Nomad Foods by 38.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 43,993 shares of the company’s stock valued at $864,000 after acquiring an additional 12,219 shares in the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOMD. Zacks Research cut shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Barclays lowered their price target on shares of Nomad Foods from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. BTIG Research lowered their price target on shares of Nomad Foods from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Weiss Ratings restated a “hold (c)” rating on shares of Nomad Foods in a report on Wednesday. Finally, Mizuho decreased their price objective on shares of Nomad Foods from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Nomad Foods presently has an average rating of “Moderate Buy” and a consensus target price of $19.75.

Nomad Foods Trading Down 2.7%

Shares of NYSE:NOMD opened at $12.16 on Friday. The stock has a market capitalization of $1.86 billion, a PE ratio of 8.33 and a beta of 0.70. Nomad Foods Limited has a 1 year low of $12.11 and a 1 year high of $20.81. The firm has a fifty day moving average price of $14.39 and a 200 day moving average price of $16.85. The company has a current ratio of 1.02, a quick ratio of 0.63 and a debt-to-equity ratio of 0.81.

Nomad Foods (NYSE:NOMD) last released its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $879.27 million during the quarter, compared to analyst estimates of $762.81 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. Analysts expect that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.6%. Nomad Foods’s dividend payout ratio is currently 46.58%.

About Nomad Foods

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.