Swedbank AB Sells 202,000 Shares of Nomad Foods Limited (NYSE:NOMD)

Swedbank AB reduced its stake in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 43.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 267,000 shares of the company's stock after selling 202,000 shares during the period. Swedbank AB owned 0.16% of Nomad Foods worth $5,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners raised its holdings in shares of Nomad Foods by 18.8% during the 1st quarter. Boston Partners now owns 8,563,043 shares of the company's stock valued at $167,241,000 after purchasing an additional 1,356,159 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Nomad Foods by 628.5% in the first quarter. Vanguard Group Inc. now owns 889,467 shares of the company's stock valued at $17,398,000 after purchasing an additional 767,366 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Nomad Foods by 8.3% in the second quarter. Renaissance Technologies LLC now owns 4,179,679 shares of the company's stock worth $68,881,000 after purchasing an additional 320,900 shares during the period. Assenagon Asset Management S.A. increased its position in Nomad Foods by 123.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 548,738 shares of the company's stock worth $9,043,000 after buying an additional 302,913 shares during the period. Finally, Invenomic Capital Management LP lifted its holdings in shares of Nomad Foods by 26.0% during the first quarter. Invenomic Capital Management LP now owns 1,218,304 shares of the company's stock worth $23,830,000 after buying an additional 251,619 shares during the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Nomad Foods from a "buy" rating to a "hold" rating in a research note on Thursday. Barclays dropped their price objective on shares of Nomad Foods from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Nomad Foods from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, August 8th.

Nomad Foods Price Performance

NYSE NOMD traded up $0.07 on Friday, reaching $18.01. The company's stock had a trading volume of 291,584 shares, compared to its average volume of 588,824. The firm has a market cap of $2.94 billion, a PE ratio of 15.01 and a beta of 0.78. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.80. Nomad Foods Limited has a 52 week low of $13.56 and a 52 week high of $20.05. The business has a 50-day moving average price of $18.65 and a 200 day moving average price of $18.15.

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

Nomad Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Saturday, August 10th were given a $0.15 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a yield of 3.33%. Nomad Foods's dividend payout ratio (DPR) is presently 50.00%.

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.