Nomad Foods Limited (NYSE:NOMD) Stake Raised by Quarry LP

Quarry LP boosted its holdings in Nomad Foods Limited (NYSE:NOMD) by 964.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,646 shares of the company’s stock after acquiring an additional 7,834 shares during the quarter. Quarry LP’s holdings in Nomad Foods were worth $145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Parkside Financial Bank & Trust raised its position in Nomad Foods by 21.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,757 shares of the company’s stock worth $63,000 after acquiring an additional 670 shares in the last quarter. Legal & General Group Plc raised its holdings in Nomad Foods by 3.3% during the 4th quarter. Legal & General Group Plc now owns 25,392 shares of the company’s stock worth $426,000 after buying an additional 800 shares during the period. State Street Corp raised its holdings in Nomad Foods by 0.6% during the 3rd quarter. State Street Corp now owns 182,004 shares of the company’s stock worth $3,469,000 after buying an additional 1,018 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Nomad Foods by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,320 shares of the company’s stock worth $1,650,000 after buying an additional 1,270 shares during the period. Finally, Blue Trust Inc. raised its holdings in Nomad Foods by 70.6% during the 4th quarter. Blue Trust Inc. now owns 3,500 shares of the company’s stock worth $59,000 after buying an additional 1,448 shares during the period. 75.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com downgraded Nomad Foods from a “strong-buy” rating to a “buy” rating in a report on Friday. Mizuho upped their target price on Nomad Foods from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Finally, Barclays upped their target price on Nomad Foods from $19.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, March 3rd.

Nomad Foods Stock Performance

Shares of NYSE NOMD opened at $19.38 on Tuesday. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 14.57 and a beta of 0.83. The business has a 50 day simple moving average of $19.45 and a 200 day simple moving average of $18.04. Nomad Foods Limited has a 52 week low of $15.43 and a 52 week high of $20.81. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.20.

Nomad Foods Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were paid a $0.17 dividend. This is a boost from Nomad Foods’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.68 annualized dividend and a dividend yield of 3.51%. 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.