Sound Income Strategies LLC Acquires 341,964 Shares of Nomad Foods Limited $NOMD

Sound Income Strategies LLC increased its holdings in shares of Nomad Foods Limited (NYSE:NOMD) by 102.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 676,241 shares of the company’s stock after acquiring an additional 341,964 shares during the period. Sound Income Strategies LLC’s holdings in Nomad Foods were worth $6,472,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOMD. Alliancebernstein L.P. boosted its stake in shares of Nomad Foods by 0.4% during the 2nd quarter. Alliancebernstein L.P. now owns 7,330,537 shares of the company’s stock worth $124,546,000 after buying an additional 27,177 shares during the last quarter. Royce & Associates LP boosted its position in Nomad Foods by 1.3% during the fourth quarter. Royce & Associates LP now owns 2,484,858 shares of the company’s stock valued at $31,086,000 after purchasing an additional 33,052 shares during the last quarter. Ruffer LLP acquired a new position in Nomad Foods during the fourth quarter valued at approximately $26,823,000. Loomis Sayles & Co. L P grew its stake in Nomad Foods by 2.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,856,727 shares of the company’s stock valued at $23,228,000 after purchasing an additional 48,060 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Nomad Foods by 7.3% in the third quarter. Wellington Management Group LLP now owns 1,713,601 shares of the company’s stock valued at $22,534,000 after purchasing an additional 117,089 shares in the last quarter. 75.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on NOMD. BTIG Research reissued a “buy” rating and issued a $15.00 target price on shares of Nomad Foods in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price target (down from $15.00) on shares of Nomad Foods in a research note on Monday, March 30th. Weiss Ratings downgraded shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Barclays decreased their target price on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. Finally, Zacks Research raised shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Nomad Foods currently has a consensus rating of “Hold” and an average price target of $12.50.

Nomad Foods Trading Up 2.0%

Shares of NYSE NOMD opened at $11.48 on Friday. The stock has a market cap of $1.60 billion, a P/E ratio of 11.14 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. The firm has a 50 day moving average price of $10.10 and a two-hundred day moving average price of $10.93. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.66 and a current ratio of 1.06.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. Nomad Foods had a net margin of 4.43% and a return on equity of 9.05%. The firm had revenue of $827.87 million during the quarter, compared to analyst estimates of $804.00 million. During the same quarter last year, the business earned $0.21 EPS. The company’s revenue was down 5.9% compared to the same quarter last year. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. As a group, equities analysts forecast that Nomad Foods Limited will post 1.75 EPS for the current year.

Nomad Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Tuesday, May 12th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.68 annualized dividend and a dividend yield of 5.9%. Nomad Foods’s dividend payout ratio is presently 66.02%.

Insider Buying and Selling

In other Nomad Foods news, Director Ian G. H. Ashken bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $9.13 per share, with a total value of $913,000.00. Following the completion of the purchase, the director directly owned 116,916 shares of the company’s stock, valued at approximately $1,067,443.08. This trade represents a 591.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dominic Brisby bought 150,000 shares of the stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $9.79 per share, with a total value of $1,468,500.00. Following the completion of the acquisition, the chief executive officer owned 676,794 shares of the company’s stock, valued at $6,625,813.26. This represents a 28.47% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 264,731 shares of company stock valued at $2,524,538 over the last 90 days. Company insiders own 17.27% of the company’s stock.

About Nomad Foods

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.