Nomad Foods Limited (NYSE:NOMD) Stock Position Lifted by National Bank of Canada FI

National Bank of Canada FI grew its position in Nomad Foods Limited (NYSE:NOMD) by 378.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,775 shares of the company’s stock after purchasing an additional 2,195 shares during the period. National Bank of Canada FI’s holdings in Nomad Foods were worth $46,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC acquired a new stake in Nomad Foods in the 1st quarter worth $3,645,000. Swedbank AB bought a new position in Nomad Foods during the 1st quarter valued at about $10,425,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Nomad Foods in the fourth quarter valued at approximately $697,000. BNP Paribas Financial Markets boosted its stake in Nomad Foods by 560.2% in the fourth quarter. BNP Paribas Financial Markets now owns 55,281 shares of the company’s stock worth $937,000 after purchasing an additional 46,907 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Nomad Foods by 16.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,377,332 shares of the company’s stock worth $26,941,000 after buying an additional 193,531 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Wall Street Analysts Forecast Growth

NOMD has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Nomad Foods from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Finally, Barclays reduced their target price on Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, July 19th.

Nomad Foods Trading Up 1.9 %

Shares of NYSE:NOMD opened at $19.49 on Monday. The stock has a market capitalization of $3.18 billion, a PE ratio of 16.24 and a beta of 0.78. The company’s 50-day moving average price is $18.35 and its two-hundred day moving average price is $18.31. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.73. Nomad Foods Limited has a one year low of $13.56 and a one year high of $20.05.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $810.64 million during the quarter, compared to analysts’ expectations of $822.21 million. Nomad Foods had a return on equity of 9.78% and a net margin of 6.79%. On average, equities analysts forecast that Nomad Foods Limited will post 1.96 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Saturday, August 10th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Friday, August 9th. Nomad Foods’s dividend payout ratio (DPR) is currently 50.00%.

About Nomad Foods

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.