Inspire Advisors LLC Buys New Position in Nomad Foods Limited $NOMD

Inspire Advisors LLC acquired a new position in Nomad Foods Limited (NYSE:NOMD) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 20,239 shares of the company’s stock, valued at approximately $344,000.

A number of other large investors have also bought and sold shares of NOMD. Summit Securities Group LLC purchased a new stake in shares of Nomad Foods in the 1st quarter worth about $32,000. State of Wyoming raised its stake in Nomad Foods by 56.6% in the first quarter. State of Wyoming now owns 9,466 shares of the company’s stock worth $186,000 after buying an additional 3,421 shares in the last quarter. Sciencast Management LP purchased a new stake in Nomad Foods in the first quarter worth about $196,000. PAX Financial Group LLC bought a new stake in Nomad Foods during the 2nd quarter valued at approximately $212,000. Finally, Cetera Investment Advisers bought a new stake in Nomad Foods during the 2nd quarter valued at approximately $221,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Nomad Foods Stock Up 0.8%

Shares of NYSE NOMD opened at $12.17 on Thursday. Nomad Foods Limited has a 12-month low of $11.04 and a 12-month high of $20.81. The stock has a market cap of $1.87 billion, a PE ratio of 8.33 and a beta of 0.69. The company has a current ratio of 1.02, a quick ratio of 0.63 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average of $12.47 and a 200 day moving average of $15.36.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The business had revenue of $881.94 million during the quarter, compared to analyst estimates of $760.75 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. As a group, sell-side analysts predict that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.68 annualized dividend and a yield of 5.6%. Nomad Foods’s dividend payout ratio is 47.22%.

Analysts Set New Price Targets

Several brokerages recently commented on NOMD. Weiss Ratings reissued a “hold (c-)” rating on shares of Nomad Foods in a research report on Friday, October 31st. BTIG Research restated a “buy” rating and issued a $18.00 price target on shares of Nomad Foods in a research report on Monday, November 10th. Zacks Research cut Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Mizuho decreased their price target on shares of Nomad Foods from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Finally, Barclays reduced their price objective on Nomad Foods from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $18.67.

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.