Wellington Management Group LLP Cuts Stake in Nomad Foods Limited (NYSE:NOMD)

Wellington Management Group LLP reduced its holdings in Nomad Foods Limited (NYSE:NOMD - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,875,747 shares of the company's stock after selling 31,115 shares during the period. Wellington Management Group LLP owned about 1.15% of Nomad Foods worth $31,475,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its stake in shares of Nomad Foods by 61.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company's stock worth $40,000 after acquiring an additional 800 shares during the last quarter. 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 buying an additional 1,448 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Nomad Foods by 21.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,757 shares of the company's stock valued at $63,000 after buying an additional 670 shares during the period. R Squared Ltd acquired a new position in Nomad Foods in the fourth quarter valued at approximately $83,000. Finally, Venturi Wealth Management LLC purchased a new position in Nomad Foods in the fourth quarter worth approximately $124,000. 75.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on NOMD. Barclays lifted their target price on Nomad Foods from $19.00 to $23.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. StockNews.com upgraded shares of Nomad Foods from a "buy" rating to a "strong-buy" rating in a report on Friday. Finally, Mizuho lifted their price target on shares of Nomad Foods from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th.

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Nomad Foods Trading Up 1.1 %

Shares of NOMD traded up $0.22 during midday trading on Friday, hitting $19.10. 551,885 shares of the stock were exchanged, compared to its average volume of 623,925. Nomad Foods Limited has a 52-week low of $15.43 and a 52-week high of $20.81. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.20. The stock has a fifty day simple moving average of $19.10 and a 200 day simple moving average of $17.96. The firm has a market cap of $2.93 billion, a P/E ratio of 14.36 and a beta of 0.83.

Nomad Foods Increases Dividend

The company 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 represents a $0.68 dividend on an annualized basis and a yield of 3.56%. This is a boost from Nomad Foods's previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 10th. Nomad Foods's dividend payout ratio (DPR) is 45.03%.

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.