Ruffer LLP Takes Position in Nomad Foods Limited $NOMD

Ruffer LLP acquired a new stake in shares of Nomad Foods Limited (NYSE:NOMD) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,140,876 shares of the company’s stock, valued at approximately $26,823,000. Nomad Foods makes up about 1.2% of Ruffer LLP’s investment portfolio, making the stock its 28th largest position. Ruffer LLP owned 1.40% of Nomad Foods as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthCollab LLC boosted its stake in shares of Nomad Foods by 242.0% during the fourth quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock valued at $26,000 after purchasing an additional 1,452 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Nomad Foods during the third quarter valued at approximately $43,000. Mondrian Investment Partners LTD bought a new position in shares of Nomad Foods during the third quarter valued at approximately $44,000. Osaic Holdings Inc. boosted its stake in shares of Nomad Foods by 87.4% during the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock valued at $45,000 after purchasing an additional 1,240 shares in the last quarter. Finally, Arizona PSPRS Trust purchased a new stake in Nomad Foods during the third quarter valued at approximately $121,000. 75.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOMD has been the subject of a number of analyst reports. Zacks Research cut shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Weiss Ratings cut shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 target price (down from $15.00) on shares of Nomad Foods in a research report on Monday, March 30th. Mizuho decreased their target price on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Finally, BTIG Research decreased their target price on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Nomad Foods has an average rating of “Hold” and a consensus target price of $12.50.

Nomad Foods Trading Up 0.4%

NYSE NOMD opened at $9.71 on Wednesday. The company has a fifty day simple moving average of $10.55 and a two-hundred day simple moving average of $11.61. The stock has a market cap of $1.38 billion, a P/E ratio of 9.51 and a beta of 0.74. Nomad Foods Limited has a 12-month low of $9.43 and a 12-month high of $20.29. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 7.0%. Nomad Foods’s dividend payout ratio (DPR) is currently 66.67%.

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.