Raymond James Financial Inc. Makes New Investment in Nomad Foods Limited (NYSE:NOMD)

Raymond James Financial Inc. bought a new stake in Nomad Foods Limited (NYSE:NOMD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 713,173 shares of the company's stock, valued at approximately $11,967,000. Raymond James Financial Inc. owned about 0.44% of Nomad Foods as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NOMD. Victory Capital Management Inc. lifted its position in Nomad Foods by 12.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,322,267 shares of the company's stock valued at $38,968,000 after purchasing an additional 253,086 shares during the period. Wellington Management Group LLP lifted its position in shares of Nomad Foods by 2.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,906,862 shares of the company's stock valued at $36,345,000 after acquiring an additional 39,739 shares during the period. Townsend & Associates Inc lifted its position in shares of Nomad Foods by 3.2% during the 4th quarter. Townsend & Associates Inc now owns 1,589,052 shares of the company's stock valued at $26,807,000 after acquiring an additional 49,321 shares during the period. Invenomic Capital Management LP lifted its position in shares of Nomad Foods by 6.4% during the 3rd quarter. Invenomic Capital Management LP now owns 1,532,709 shares of the company's stock valued at $29,213,000 after acquiring an additional 92,844 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in shares of Nomad Foods by 25.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,418,497 shares of the company's stock valued at $27,036,000 after acquiring an additional 289,090 shares during the period. 75.26% of the stock is owned by hedge funds and other institutional investors.

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Nomad Foods Price Performance

Shares of Nomad Foods stock traded down $0.20 during trading on Friday, hitting $19.35. 814,949 shares of the company were exchanged, compared to its average volume of 597,392. The company has a quick ratio of 0.72, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. 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 capitalization of $2.97 billion, a price-to-earnings ratio of 14.55 and a beta of 0.77. The firm has a 50 day moving average price of $18.33 and a 200 day moving average price of $17.95.

Nomad Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were given a dividend of $0.17 per share. This is an increase from Nomad Foods's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Monday, February 10th. Nomad Foods's payout ratio is currently 45.03%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. 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 report on Monday, March 3rd. 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.

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.