Empowered Funds LLC Takes Position in Nomad Foods Limited (NYSE:NOMD)

Empowered Funds LLC acquired a new position in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,911 shares of the company's stock, valued at approximately $317,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Nomad Foods during the 4th quarter valued at $83,000. Blue Trust Inc. increased its holdings in shares of Nomad Foods by 70.6% during the 4th quarter. Blue Trust Inc. now owns 3,500 shares of the company's stock worth $59,000 after purchasing an additional 1,448 shares during the period. Fenimore Asset Management Inc raised its position in shares of Nomad Foods by 5.6% during the fourth quarter. Fenimore Asset Management Inc now owns 1,035,044 shares of the company's stock valued at $17,368,000 after buying an additional 54,742 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Nomad Foods in the fourth quarter valued at about $2,766,000. Finally, Perpetual Ltd grew its position in Nomad Foods by 64.9% during the fourth quarter. Perpetual Ltd now owns 717,055 shares of the company's stock worth $12,032,000 after buying an additional 282,175 shares in the last quarter. Institutional investors own 75.26% of the company's stock.

Analyst Upgrades and Downgrades

NOMD has been the subject of several recent research reports. Mizuho reduced their price objective on Nomad Foods from $28.00 to $24.00 and set an "outperform" rating for the company in a research report on Wednesday, December 18th. Barclays cut their target price on Nomad Foods from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nomad Foods from $25.00 to $23.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com upgraded shares of Nomad Foods from a "hold" rating to a "buy" rating in a research note on Monday, November 18th.

Nomad Foods Trading Up 2.8 %

NOMD traded up $0.52 during mid-day trading on Friday, reaching $18.87. The stock had a trading volume of 923,666 shares, compared to its average volume of 596,990. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.20. Nomad Foods Limited has a 52 week low of $15.43 and a 52 week high of $20.05. The stock has a market capitalization of $3.07 billion, a P/E ratio of 14.18 and a beta of 0.79. The firm's fifty day simple moving average is $17.12 and its two-hundred day simple moving average is $17.80.

Nomad Foods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, February 10th. This is a positive change from Nomad Foods's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 3.60%. Nomad Foods's payout ratio is currently 51.13%.

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.