Raymond James Financial Inc. Takes Position in Nomad Foods Limited (NYSE:NOMD)

Raymond James Financial Inc. bought a new stake in Nomad Foods Limited (NYSE:NOMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 713,173 shares of the company’s stock, valued at approximately $11,967,000. Raymond James Financial Inc. owned 0.44% of Nomad Foods at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Parkside Financial Bank & Trust raised its stake in shares of Nomad Foods by 21.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,757 shares of the company’s stock valued at $63,000 after acquiring an additional 670 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Nomad Foods by 61.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock valued at $40,000 after acquiring an additional 800 shares during the period. Avior Wealth Management LLC raised its stake in shares of Nomad Foods by 25.8% in the 3rd quarter. Avior Wealth Management LLC now owns 3,920 shares of the company’s stock valued at $75,000 after acquiring an additional 804 shares during the period. State Street Corp raised its stake in shares of Nomad Foods by 0.6% in the 3rd quarter. State Street Corp now owns 182,004 shares of the company’s stock valued at $3,469,000 after acquiring an additional 1,018 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Nomad Foods by 70.6% in the 4th quarter. Blue Trust Inc. now owns 3,500 shares of the company’s stock valued at $59,000 after acquiring an additional 1,448 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays raised their target price on shares of Nomad Foods from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. Mizuho lifted their price target on shares of Nomad Foods from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th.

Nomad Foods Stock Performance

Nomad Foods stock opened at $19.59 on Thursday. Nomad Foods Limited has a 12-month low of $15.43 and a 12-month high of $20.81. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 14.73 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72. The firm’s fifty day moving average price is $18.18 and its 200 day moving average price is $17.94.

Nomad Foods Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.68 annualized dividend and a dividend yield of 3.47%. This is an increase from Nomad Foods’s previous quarterly dividend of $0.15. Nomad Foods’s payout ratio is presently 45.03%.

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.