Inspire Investing LLC Makes New Investment in Nomad Foods Limited $NOMD

Inspire Investing LLC bought a new stake in shares of Nomad Foods Limited (NYSE:NOMD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,970 shares of the company’s stock, valued at approximately $237,000.

Other large investors also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Nomad Foods during the 1st quarter worth approximately $32,000. State of Wyoming grew its stake in shares of Nomad Foods by 56.6% during 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 during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Nomad Foods during the first quarter worth $196,000. Sciencast Management LP acquired a new position in shares of Nomad Foods during the first quarter worth $196,000. Finally, First Bank & Trust bought a new position in shares of Nomad Foods in the 1st quarter valued at $219,000. 75.26% of the stock is owned by institutional investors and hedge funds.

Nomad Foods Stock Up 1.1%

Nomad Foods stock opened at $12.21 on Friday. The company has a market capitalization of $1.87 billion, a PE ratio of 8.36 and a beta of 0.70. Nomad Foods Limited has a 12-month low of $11.86 and a 12-month high of $20.81. The firm’s fifty day moving average is $13.99 and its 200 day moving average is $16.61. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $879.27 million for the quarter, compared to analysts’ expectations of $762.81 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. As a group, sell-side analysts predict that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Monday, August 11th. Nomad Foods’s dividend payout ratio (DPR) is 46.58%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NOMD. 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 report on Friday, August 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nomad Foods in a report on Wednesday, October 8th. Mizuho reduced their target price on shares of Nomad Foods from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. BTIG Research decreased their price target on shares of Nomad Foods from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Finally, Zacks Research downgraded shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Four equities research 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, the company has an average rating of “Moderate Buy” and an average target price of $19.75.

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.