Millennium Management LLC Lowers Stock Position in Nomad Foods Limited (NYSE:NOMD)

Millennium Management LLC lessened its holdings in shares of Nomad Foods Limited (NYSE:NOMD) by 48.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,111,255 shares of the company’s stock after selling 1,039,225 shares during the period. Millennium Management LLC owned 0.68% of Nomad Foods worth $18,313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOMD. Blue Trust Inc. increased its position in Nomad Foods by 133.2% during the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock valued at $27,000 after buying an additional 934 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Nomad Foods during the second quarter valued at $42,000. National Bank of Canada FI raised its position in shares of Nomad Foods by 378.4% in the 2nd quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock worth $46,000 after purchasing an additional 2,195 shares during the last quarter. nVerses Capital LLC bought a new position in Nomad Foods in the 2nd quarter worth about $120,000. Finally, Atlas Capital Advisors LLC purchased a new stake in Nomad Foods during the 1st quarter valued at about $201,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Nomad Foods Price Performance

Shares of NYSE:NOMD opened at $18.23 on Friday. The business has a 50-day simple moving average of $18.82 and a two-hundred day simple moving average of $18.27. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.73 and a current ratio of 1.17. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 15.19 and a beta of 0.78. Nomad Foods Limited has a fifty-two week low of $13.56 and a fifty-two week high of $20.05.

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

Nomad Foods Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Nomad Foods from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. StockNews.com lowered shares of Nomad Foods from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Finally, Barclays cut their target price on Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th.

Nomad Foods Company 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.