Millennium Management LLC Decreases Stake in Nomad Foods Limited (NYSE:NOMD)

Millennium Management LLC trimmed its stake in Nomad Foods Limited (NYSE:NOMD - Free Report) by 48.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,111,255 shares of the company's stock after selling 1,039,225 shares during the period. Millennium Management LLC owned approximately 0.68% of Nomad Foods worth $18,313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nebula Research & Development LLC boosted its holdings in shares of Nomad Foods by 17.4% in the fourth quarter. Nebula Research & Development LLC now owns 74,368 shares of the company's stock valued at $1,261,000 after acquiring an additional 11,003 shares during the period. Quadrature Capital Ltd acquired a new stake in Nomad Foods during the 4th quarter worth $291,000. Miller Howard Investments Inc. NY purchased a new position in Nomad Foods during the 1st quarter worth $525,000. Atlas Capital Advisors LLC acquired a new position in Nomad Foods in the first quarter valued at $201,000. Finally, Renaissance Group LLC raised its holdings in shares of Nomad Foods by 3.0% in the first quarter. Renaissance Group LLC now owns 464,300 shares of the company's stock valued at $9,082,000 after buying an additional 13,722 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NOMD. StockNews.com cut Nomad Foods from a "buy" rating to a "hold" rating in a research note on Tuesday, October 1st. Barclays cut their price objective on shares of Nomad Foods from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Nomad Foods from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th.

Nomad Foods Price Performance

Shares of Nomad Foods stock traded up $0.10 on Friday, hitting $18.23. The company's stock had a trading volume of 426,322 shares, compared to its average volume of 599,626. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $18.82 and a 200-day moving average price of $18.26. Nomad Foods Limited has a 52-week low of $13.56 and a 52-week high of $20.05. The company has a market capitalization of $2.97 billion, a P/E ratio of 15.19 and a beta of 0.78.

Nomad Foods (NYSE:NOMD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $810.64 million during the quarter, compared to the consensus estimate of $822.21 million. Nomad Foods had a return on equity of 9.78% and a net margin of 6.79%. On average, equities research analysts expect that Nomad Foods Limited will post 1.96 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Saturday, August 10th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a yield of 3.29%. Nomad Foods's dividend payout ratio (DPR) is currently 50.00%.

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.