VELA Investment Management LLC Acquires 66,500 Shares of Nomad Foods Limited $NOMD

VELA Investment Management LLC boosted its holdings in Nomad Foods Limited (NYSE:NOMD) by 119.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 122,400 shares of the company’s stock after purchasing an additional 66,500 shares during the quarter. VELA Investment Management LLC’s holdings in Nomad Foods were worth $1,531,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NOMD. Ruffer LLP bought a new position in Nomad Foods in the 4th quarter valued at about $26,823,000. Polaris Capital Management LLC lifted its position in Nomad Foods by 138.8% in the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock valued at $45,261,000 after acquiring an additional 2,000,400 shares in the last quarter. Royce & Associates LP lifted its position in Nomad Foods by 45.4% in the 3rd quarter. Royce & Associates LP now owns 2,451,806 shares of the company’s stock valued at $32,241,000 after acquiring an additional 765,690 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Nomad Foods by 164.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,195,533 shares of the company’s stock valued at $20,312,000 after acquiring an additional 742,813 shares in the last quarter. Finally, Atlantic Investment Management Inc. bought a new position in shares of Nomad Foods during the 3rd quarter worth approximately $9,494,000. Institutional investors own 75.26% of the company’s stock.

Analyst Upgrades and Downgrades

NOMD has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 target price (down from $15.00) on shares of Nomad Foods in a research report on Monday, March 30th. Mizuho dropped their target price on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings cut shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. BTIG Research dropped their target price on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Finally, Zacks Research cut shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.50.

Nomad Foods Stock Performance

NYSE:NOMD opened at $9.51 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 0.66. The company has a market capitalization of $1.35 billion, a P/E ratio of 9.33 and a beta of 0.69. Nomad Foods Limited has a 1 year low of $9.39 and a 1 year high of $20.29. The business has a fifty day simple moving average of $10.11 and a two-hundred day simple moving average of $11.48.

Nomad Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Tuesday, May 12th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.68 annualized dividend and a yield of 7.1%. Nomad Foods’s dividend payout ratio is 66.67%.

Nomad Foods Company 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.