VELA Investment Management LLC Raises Position in Nomad Foods Limited (NYSE:NOMD)

VELA Investment Management LLC lifted its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 25.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 57,900 shares of the company’s stock after acquiring an additional 11,900 shares during the period. VELA Investment Management LLC’s holdings in Nomad Foods were worth $1,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Legal & General Group Plc lifted its stake in shares of Nomad Foods by 3.3% in the fourth quarter. Legal & General Group Plc now owns 25,392 shares of the company’s stock worth $426,000 after acquiring an additional 800 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Nomad Foods by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,320 shares of the company’s stock valued at $1,650,000 after purchasing an additional 1,270 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Nomad Foods by 10.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 27,333 shares of the company’s stock valued at $459,000 after buying an additional 2,535 shares during the last quarter. Penn Capital Management Company LLC grew its position in shares of Nomad Foods by 10.1% during the fourth quarter. Penn Capital Management Company LLC now owns 30,904 shares of the company’s stock worth $519,000 after buying an additional 2,835 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of Nomad Foods in the fourth quarter worth $62,000. 75.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Nomad Foods from a “buy” rating to a “hold” rating in a research note on Friday, May 9th.

Nomad Foods Trading Down 0.2%

Shares of NYSE NOMD opened at $17.30 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. The stock’s 50 day moving average price is $17.87 and its two-hundred day moving average price is $18.14. Nomad Foods Limited has a 52-week low of $15.43 and a 52-week high of $20.81. The stock has a market capitalization of $2.65 billion, a P/E ratio of 11.53 and a beta of 0.73.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The firm had revenue of $822.31 million during the quarter, compared to the consensus estimate of $769.39 million. Nomad Foods had a net margin of 7.35% and a return on equity of 10.60%. Nomad Foods’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. On average, analysts anticipate that Nomad Foods Limited will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 12th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Monday, May 12th. Nomad Foods’s dividend payout ratio (DPR) is presently 45.33%.

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.