Russell Investments Group Ltd. Sells 776,155 Shares of Nomad Foods Limited (NYSE:NOMD)

Russell Investments Group Ltd. reduced its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 62.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 472,002 shares of the company's stock after selling 776,155 shares during the quarter. Russell Investments Group Ltd. owned 0.29% of Nomad Foods worth $7,920,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of NOMD. Wells Fargo & Company MN increased its stake in Nomad Foods by 4.7% during the 4th quarter. Wells Fargo & Company MN now owns 81,645 shares of the company's stock worth $1,370,000 after purchasing an additional 3,632 shares in the last quarter. ExodusPoint Capital Management LP grew its holdings in shares of Nomad Foods by 212.2% during the fourth quarter. ExodusPoint Capital Management LP now owns 143,300 shares of the company's stock worth $2,405,000 after buying an additional 97,395 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Nomad Foods in the 4th quarter valued at approximately $76,000. Alliancebernstein L.P. lifted its stake in Nomad Foods by 2.5% in the 4th quarter. Alliancebernstein L.P. now owns 7,708,354 shares of the company's stock valued at $129,346,000 after acquiring an additional 187,146 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Nomad Foods in the fourth quarter valued at approximately $27,386,000. Institutional investors and hedge funds own 75.26% of the company's stock.

Nomad Foods Stock Performance

Nomad Foods stock traded up $0.02 during mid-day trading on Tuesday, hitting $19.42. 504,614 shares of the company's stock traded hands, compared to its average volume of 624,301. Nomad Foods Limited has a fifty-two week low of $15.43 and a fifty-two week high of $20.81. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 14.60 and a beta of 0.83. The firm has a 50 day simple moving average of $19.14 and a two-hundred day simple moving average of $17.95. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72.

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Nomad Foods Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were issued a dividend of $0.17 per share. This is an increase from Nomad Foods's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.68 annualized dividend and a dividend yield of 3.50%. Nomad Foods's payout ratio is presently 45.03%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NOMD. Barclays lifted their price target on shares of Nomad Foods from $19.00 to $23.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. StockNews.com raised Nomad Foods from a "buy" rating to a "strong-buy" rating in a report on Friday. Finally, Mizuho upped their price target on shares of Nomad Foods from $24.00 to $26.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th.

About Nomad Foods

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.