Point72 Asset Management L.P. Buys 26,755 Shares of Nomad Foods Limited (NYSE:NOMD)

Point72 Asset Management L.P. increased its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 424.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,055 shares of the company’s stock after purchasing an additional 26,755 shares during the quarter. Point72 Asset Management L.P.’s holdings in Nomad Foods were worth $545,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mutual of America Capital Management LLC bought a new stake in Nomad Foods during the 1st quarter worth about $3,645,000. Swedbank AB acquired a new position in Nomad Foods in the first quarter valued at approximately $10,425,000. Russell Investments Group Ltd. boosted its stake in Nomad Foods by 16.3% in the first quarter. Russell Investments Group Ltd. now owns 1,377,332 shares of the company’s stock valued at $26,941,000 after acquiring an additional 193,531 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Nomad Foods by 123.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 548,738 shares of the company’s stock worth $9,043,000 after acquiring an additional 302,913 shares during the period. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Nomad Foods during the 1st quarter valued at $1,398,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NOMD shares. StockNews.com lowered Nomad Foods from a “buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their target price on Nomad Foods from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Barclays lowered their price target on Nomad Foods from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, July 19th.

Nomad Foods Price Performance

NOMD opened at $18.22 on Friday. The stock has a market cap of $2.97 billion, a P/E ratio of 15.18 and a beta of 0.78. Nomad Foods Limited has a 12 month low of $13.56 and a 12 month high of $20.05. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.80. The company has a fifty day simple moving average of $18.82 and a 200 day simple moving average of $18.28.

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

Nomad Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Saturday, August 10th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.29%. Nomad Foods’s payout ratio is 50.00%.

Nomad Foods Profile

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.