Lombard Odier Asset Management Europe Ltd Sells 556,682 Shares of Nomad Foods Limited $NOMD

Lombard Odier Asset Management Europe Ltd cut its holdings in Nomad Foods Limited (NYSE:NOMD) by 62.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 334,349 shares of the company’s stock after selling 556,682 shares during the quarter. Lombard Odier Asset Management Europe Ltd owned about 0.24% of Nomad Foods worth $3,213,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Royal Bank of Canada raised its holdings in Nomad Foods by 9.2% during the 1st quarter. Royal Bank of Canada now owns 143,968 shares of the company’s stock worth $2,829,000 after buying an additional 12,131 shares during the period. Millennium Management LLC boosted its holdings in shares of Nomad Foods by 81.3% in the first quarter. Millennium Management LLC now owns 656,686 shares of the company’s stock valued at $12,904,000 after buying an additional 294,386 shares during the period. Jane Street Group LLC boosted its holdings in shares of Nomad Foods by 50.2% in the first quarter. Jane Street Group LLC now owns 75,847 shares of the company’s stock valued at $1,490,000 after buying an additional 25,358 shares during the period. Cetera Investment Advisers bought a new stake in shares of Nomad Foods during the second quarter worth $221,000. Finally, JPMorgan Chase & Co. increased its position in shares of Nomad Foods by 427.3% during the second quarter. JPMorgan Chase & Co. now owns 105,871 shares of the company’s stock worth $1,799,000 after acquiring an additional 85,793 shares in the last quarter. 75.26% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Ian G. H. Ashken bought 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $9.13 per share, for a total transaction of $913,000.00. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ruben Baldew purchased 14,731 shares of Nomad Foods stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $9.71 per share, with a total value of $143,038.01. Following the completion of the transaction, the chief financial officer directly owned 338,882 shares of the company’s stock, valued at approximately $3,290,544.22. The trade was a 4.54% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 264,731 shares of company stock worth $2,524,538 in the last quarter. Corporate insiders own 17.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NOMD shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Nomad Foods in a research report on Tuesday. Zacks Research upgraded Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. BTIG Research reissued a “buy” rating and issued a $15.00 price target on shares of Nomad Foods in a research note on Wednesday, May 13th. Barclays boosted their price target on Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Finally, Weiss Ratings raised Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.25.

Nomad Foods Stock Performance

Shares of NOMD stock opened at $11.74 on Friday. The company’s fifty day simple moving average is $10.74 and its 200-day simple moving average is $10.83. 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 firm has a market cap of $1.64 billion, a PE ratio of 11.40 and a beta of 0.69. Nomad Foods Limited has a 12 month low of $8.99 and a 12 month high of $18.05.

Nomad Foods (NYSE:NOMD) last released its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. Nomad Foods had a net margin of 4.43% and a return on equity of 9.05%. The business had revenue of $827.87 million during the quarter, compared to the consensus estimate of $804.00 million. During the same quarter last year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts expect that Nomad Foods Limited will post 1.75 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Tuesday, May 12th. Nomad Foods’s dividend payout ratio is currently 66.02%.

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.