Swedbank AB Takes $10.43 Million Position in Nomad Foods Limited (NYSE:NOMD)

Swedbank AB acquired a new stake in shares of Nomad Foods Limited (NYSE:NOMD) during the 1st quarter, Holdings Channel reports. The firm acquired 533,000 shares of the company’s stock, valued at approximately $10,425,000.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners lifted its position in Nomad Foods by 30.6% in the 4th quarter. Boston Partners now owns 7,206,884 shares of the company’s stock valued at $122,251,000 after acquiring an additional 1,688,624 shares in the last quarter. Norges Bank bought a new position in shares of Nomad Foods during the 4th quarter worth approximately $25,286,000. Vanguard Group Inc. lifted its position in shares of Nomad Foods by 628.5% during the 1st quarter. Vanguard Group Inc. now owns 889,467 shares of the company’s stock worth $17,398,000 after buying an additional 767,366 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Nomad Foods by 157.6% during the 4th quarter. Russell Investments Group Ltd. now owns 1,183,801 shares of the company’s stock worth $20,065,000 after buying an additional 724,232 shares in the last quarter. Finally, Townsend & Associates Inc lifted its position in shares of Nomad Foods by 102.1% during the 4th quarter. Townsend & Associates Inc now owns 1,402,280 shares of the company’s stock worth $24,273,000 after buying an additional 708,489 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Stock Performance

Nomad Foods stock traded up $0.20 during mid-day trading on Friday, reaching $18.95. The company’s stock had a trading volume of 255,151 shares, compared to its average volume of 578,925. Nomad Foods Limited has a 12-month low of $13.56 and a 12-month high of $20.05. The company has a market capitalization of $3.09 billion, a P/E ratio of 15.79 and a beta of 0.79. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.73 and a current ratio of 1.14. The firm’s fifty day moving average price is $17.35 and its two-hundred day moving average price is $18.12.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Nomad Foods had a net margin of 6.10% and a return on equity of 9.68%. The firm had revenue of $850.90 million during the quarter, compared to the consensus estimate of $858.61 million. Sell-side analysts predict that Nomad Foods Limited will post 1.9 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Saturday, August 10th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, August 9th. Nomad Foods’s dividend payout ratio is currently 50.00%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NOMD. Barclays decreased their price target on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Mizuho raised their price target on shares of Nomad Foods from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, May 10th.

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.