Gabelli Funds LLC Lowers Stock Holdings in Nomad Foods Limited $NOMD

Gabelli Funds LLC lowered its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 80.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,000 shares of the company’s stock after selling 118,082 shares during the quarter. Gabelli Funds LLC’s holdings in Nomad Foods were worth $350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NOMD. Ruffer LLP purchased a new position in shares of Nomad Foods in the fourth quarter valued at $26,823,000. Royce & Associates LP grew its holdings in shares of Nomad Foods by 45.4% in the third quarter. Royce & Associates LP now owns 2,451,806 shares of the company’s stock valued at $32,241,000 after purchasing an additional 765,690 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of Nomad Foods by 164.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,195,533 shares of the company’s stock valued at $20,312,000 after purchasing an additional 742,813 shares in the last quarter. Atlantic Investment Management Inc. purchased a new position in shares of Nomad Foods in the third quarter valued at $9,494,000. Finally, Invenomic Capital Management LP grew its holdings in shares of Nomad Foods by 144.2% in the third quarter. Invenomic Capital Management LP now owns 952,268 shares of the company’s stock valued at $12,522,000 after purchasing an additional 562,304 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

Insiders Place Their Bets

In other Nomad Foods news, CFO Ruben Baldew bought 14,731 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $9.71 per share, for a total transaction of $143,038.01. Following the completion of the transaction, the chief financial officer owned 338,882 shares in the company, valued at $3,290,544.22. This trade represents a 4.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ian G. H. Ashken bought 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $9.13 per share, with a total value of $913,000.00. Following the completion of the transaction, the director owned 116,916 shares of the company’s stock, valued at approximately $1,067,443.08. The trade was a 591.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 264,731 shares of company stock valued at $2,524,538 over the last three months. 17.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NOMD shares. Mizuho cut their target price on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Zacks Research raised shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings raised shares of Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $10.00 target price (down from $15.00) on shares of Nomad Foods in a report on Monday, March 30th. Finally, Barclays cut their target price on shares of Nomad Foods from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Nomad Foods presently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Nomad Foods Stock Down 0.0%

NYSE NOMD opened at $10.27 on Monday. The company has a quick ratio of 0.66, a current ratio of 1.06 and a debt-to-equity ratio of 0.91. The company has a fifty day moving average of $9.73 and a two-hundred day moving average of $11.28. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 9.97 and a beta of 0.69. Nomad Foods Limited has a 52 week low of $8.99 and a 52 week high of $18.33.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. The company had revenue of $827.87 million during the quarter, compared to analyst estimates of $804.00 million. Nomad Foods had a net margin of 4.43% and a return on equity of 9.05%. Nomad Foods’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. On average, analysts predict that Nomad Foods Limited will post 1.76 earnings per share for the current year.

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Tuesday, May 12th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Tuesday, May 12th. Nomad Foods’s payout ratio is presently 66.02%.

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.