Hussman Strategic Advisors Inc. Makes New Investment in Nomad Foods Limited $NOMD

Hussman Strategic Advisors Inc. acquired a new position in shares of Nomad Foods Limited (NYSE:NOMD) in the 4th quarter, Holdings Channel.com reports. The firm acquired 168,000 shares of the company’s stock, valued at approximately $2,102,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NOMD. Ruffer LLP bought a new stake in Nomad Foods during the 4th quarter worth about $26,823,000. Polaris Capital Management LLC raised its holdings in Nomad Foods by 138.8% during the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock worth $45,261,000 after purchasing an additional 2,000,400 shares during the last quarter. Royce & Associates LP raised its holdings in Nomad Foods by 45.4% during the 3rd quarter. Royce & Associates LP now owns 2,451,806 shares of the company’s stock worth $32,241,000 after purchasing an additional 765,690 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in Nomad Foods by 164.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,195,533 shares of the company’s stock worth $20,312,000 after purchasing an additional 742,813 shares during the last quarter. Finally, Atlantic Investment Management Inc. bought a new stake in Nomad Foods during the 3rd quarter worth about $9,494,000. 75.26% of the stock is owned by institutional investors.

Nomad Foods Stock Performance

Shares of NOMD stock opened at $9.51 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 0.66. The stock has a market cap of $1.35 billion, a PE ratio of 9.33 and a beta of 0.69. The stock has a 50-day moving average of $10.11 and a 200-day moving average of $11.48. Nomad Foods Limited has a one year low of $9.39 and a one year high of $20.29.

Nomad Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Tuesday, May 12th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 7.1%. Nomad Foods’s dividend payout ratio is 66.67%.

Analyst Ratings Changes

Several brokerages have weighed in on NOMD. Mizuho dropped their price objective on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings cut Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a report on Monday, March 30th. Barclays dropped their price objective on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Finally, Zacks Research cut Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $12.50.

Nomad Foods Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.