Noesis Capital Mangement Corp Buys 50,000 Shares of Nomad Foods Limited $NOMD

Noesis Capital Mangement Corp bought a new position in Nomad Foods Limited (NYSE:NOMD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 50,000 shares of the company’s stock, valued at approximately $516,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NOMD. Renaissance Technologies LLC increased its position in Nomad Foods by 6.0% in the first quarter. Renaissance Technologies LLC now owns 3,024,282 shares of the company’s stock worth $29,063,000 after purchasing an additional 172,215 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Nomad Foods by 7.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,782,238 shares of the company’s stock valued at $17,127,000 after acquiring an additional 116,647 shares in the last quarter. Systematic Financial Management LP lifted its holdings in shares of Nomad Foods by 7.8% in the first quarter. Systematic Financial Management LP now owns 1,728,211 shares of the company’s stock valued at $16,608,000 after purchasing an additional 124,389 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Nomad Foods by 19.0% during the 1st quarter. Bank of America Corp DE now owns 1,569,765 shares of the company’s stock worth $15,085,000 after acquiring an additional 251,148 shares in the last quarter. Finally, Congress Asset Management Co. increased its stake in Nomad Foods by 21.7% in the 3rd quarter. Congress Asset Management Co. now owns 1,531,380 shares of the company’s stock valued at $15,819,000 after buying an additional 272,805 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NOMD shares. Barclays upped their price objective on Nomad Foods from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. BTIG Research reissued a “buy” rating and issued a $15.00 price objective on shares of Nomad Foods in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $12.00 price objective on shares of Nomad Foods in a research note on Wednesday, October 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a report on Tuesday, September 29th. Finally, Zacks Research downgraded Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.50.

Insider Activity at Nomad Foods

In related news, CFO Ruben Baldew purchased 28,290 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was bought at an average price of $11.85 per share, with a total value of $335,236.50. Following the completion of the purchase, the chief financial officer owned 367,172 shares in the company, valued at approximately $4,350,988.20. This represents a 8.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dominic Brisby acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average cost of $12.38 per share, for a total transaction of $619,000.00. Following the completion of the purchase, the chief executive officer owned 726,794 shares of the company’s stock, valued at $8,997,709.72. This trade represents a 7.39% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 17.27% of the company’s stock.

Nomad Foods Stock Performance

NYSE:NOMD opened at $11.86 on Tuesday. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 11.62 and a beta of 0.75. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.10. Nomad Foods Limited has a fifty-two week low of $8.99 and a fifty-two week high of $13.08. The stock has a fifty day moving average price of $11.30 and a 200-day moving average price of $11.01.

Nomad Foods (NYSE:NOMD) last released its earnings results on Thursday, August 13th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. The firm had revenue of $825.94 million for the quarter, compared to analyst estimates of $825.02 million. Nomad Foods had a net margin of 4.20% and a return on equity of 8.88%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. As a group, equities analysts anticipate that Nomad Foods Limited will post 1.62 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.7%. Nomad Foods’s dividend payout ratio is 66.67%.

About Nomad Foods

Nomad Foods is a frozen-food company focused on the European market. The company sells branded frozen meals and ingredients, including frozen fish, vegetables, poultry, potato products, pizza and plant-based foods. Its products are distributed through grocery retailers and other food channels across multiple European countries.

Nomad Foods’ portfolio includes well-known brands such as Birds Eye, Findus, iglo, Goodfella’s, Aunt Bessie’s and Green Cuisine. The brands offer products ranging from fish fingers, frozen vegetables and ready meals to frozen pizza, potato specialties and meat-free alternatives.

The company was formed in 2014 following the acquisition of the Iglo Group and expanded through subsequent acquisitions, including Findus operations in several European markets, Goodfella’s in 2018 and Aunt Bessie’s in 2020.