JPMorgan Chase & Co. Lowers Position in Nomad Foods Limited (NYSE:NOMD)

JPMorgan Chase & Co. lowered its holdings in Nomad Foods Limited (NYSE:NOMD) by 11.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,757 shares of the company’s stock after selling 14,487 shares during the period. JPMorgan Chase & Co. owned approximately 0.07% of Nomad Foods worth $2,035,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NOMD. River Road Asset Management LLC boosted its holdings in Nomad Foods by 2.9% in the third quarter. River Road Asset Management LLC now owns 4,019,663 shares of the company’s stock worth $76,615,000 after acquiring an additional 114,750 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Nomad Foods by 0.9% in the third quarter. Victory Capital Management Inc. now owns 2,069,181 shares of the company’s stock worth $39,439,000 after acquiring an additional 18,189 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Nomad Foods by 2.1% in the third quarter. Wellington Management Group LLP now owns 1,906,862 shares of the company’s stock worth $36,345,000 after acquiring an additional 39,739 shares in the last quarter. Townsend & Associates Inc boosted its holdings in Nomad Foods by 3.6% in the third quarter. Townsend & Associates Inc now owns 1,539,731 shares of the company’s stock worth $26,976,000 after acquiring an additional 53,694 shares in the last quarter. Finally, Invenomic Capital Management LP boosted its holdings in Nomad Foods by 6.4% in the third quarter. Invenomic Capital Management LP now owns 1,532,709 shares of the company’s stock worth $29,213,000 after acquiring an additional 92,844 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Nomad Foods Trading Down 2.8 %

Shares of Nomad Foods stock opened at $16.40 on Thursday. The company has a market capitalization of $2.67 billion, a P/E ratio of 12.33 and a beta of 0.79. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72. Nomad Foods Limited has a 1 year low of $15.43 and a 1 year high of $20.05. The business has a 50 day moving average price of $17.04 and a 200 day moving average price of $17.82.

Nomad Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 8th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Friday, November 8th. Nomad Foods’s dividend payout ratio (DPR) is presently 45.11%.

Analyst Ratings Changes

NOMD has been the subject of a number of recent analyst reports. StockNews.com raised Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Mizuho dropped their price target on Nomad Foods from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Barclays decreased their price objective on Nomad Foods from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th.

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.