Inceptionr LLC Decreases Stake in Nomad Foods Limited $NOMD

Inceptionr LLC reduced its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 51.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,384 shares of the company’s stock after selling 12,872 shares during the period. Inceptionr LLC’s holdings in Nomad Foods were worth $210,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NOMD. Boston Partners lifted its position in Nomad Foods by 40.3% during the 2nd quarter. Boston Partners now owns 14,323,433 shares of the company’s stock worth $243,276,000 after acquiring an additional 4,114,150 shares during the period. Franklin Resources Inc. purchased a new position in shares of Nomad Foods in the second quarter worth about $468,000. Legal & General Group Plc raised its stake in shares of Nomad Foods by 124.7% in the second quarter. Legal & General Group Plc now owns 61,040 shares of the company’s stock worth $1,037,000 after purchasing an additional 33,877 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Nomad Foods by 427.3% during the second quarter. JPMorgan Chase & Co. now owns 105,871 shares of the company’s stock worth $1,799,000 after purchasing an additional 85,793 shares during the period. Finally, ABN AMRO Bank N.V. purchased a new stake in Nomad Foods in the second quarter valued at approximately $6,056,000. 75.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on NOMD shares. Barclays reduced their price target on shares of Nomad Foods from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. BTIG Research reissued a “buy” rating and set a $18.00 target price on shares of Nomad Foods in a report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a report on Friday, October 31st. Mizuho cut their price target on Nomad Foods from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Finally, Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Nomad Foods currently has an average rating of “Hold” and a consensus price target of $18.67.

Nomad Foods Stock Performance

NOMD opened at $12.24 on Monday. The firm has a fifty day moving average price of $12.24 and a 200 day moving average price of $14.99. Nomad Foods Limited has a 1 year low of $11.04 and a 1 year high of $20.81. The stock has a market cap of $1.88 billion, a P/E ratio of 8.38 and a beta of 0.69. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The firm had revenue of $881.94 million during the quarter, compared to analysts’ expectations of $760.75 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. Equities research analysts anticipate that Nomad Foods Limited will post 1.82 earnings per share for the current year.

Nomad Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th were given a dividend of $0.17 per share. The ex-dividend date was Monday, November 10th. This represents a $0.68 dividend on an annualized basis and a yield of 5.6%. Nomad Foods’s dividend payout ratio is currently 47.22%.

Nomad Foods Company 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.