Renaissance Group LLC Boosts Stake in Nomad Foods Limited (NYSE:NOMD)

Renaissance Group LLC increased its holdings in shares of Nomad Foods Limited (NYSE:NOMD - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 468,194 shares of the company's stock after buying an additional 27,535 shares during the quarter. Renaissance Group LLC owned 0.29% of Nomad Foods worth $7,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. raised its holdings 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 buying an additional 800 shares during the last quarter. Blue Trust Inc. raised its stake in Nomad Foods by 70.6% in the 4th quarter. Blue Trust Inc. now owns 3,500 shares of the company's stock worth $59,000 after acquiring an additional 1,448 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Nomad Foods by 21.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,757 shares of the company's stock worth $63,000 after acquiring an additional 670 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Nomad Foods during the 4th quarter worth about $76,000. Finally, R Squared Ltd purchased a new stake in Nomad Foods during the 4th quarter valued at about $83,000. 75.26% of the stock is owned by institutional investors and hedge funds.

Nomad Foods Stock Performance

Shares of NOMD traded up $0.22 during mid-day trading on Friday, reaching $19.10. The company had a trading volume of 551,885 shares, compared to its average volume of 624,653. The stock has a market capitalization of $2.93 billion, a P/E ratio of 14.36 and a beta of 0.83. Nomad Foods Limited has a 52-week low of $15.43 and a 52-week high of $20.81. The stock has a 50 day moving average of $19.10 and a two-hundred day moving average of $17.95. The company has a quick ratio of 0.72, a current ratio of 1.20 and a debt-to-equity ratio of 0.79.

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Nomad Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Nomad Foods's previous quarterly dividend of $0.15. Nomad Foods's dividend payout ratio is currently 45.03%.

Analyst Ratings Changes

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

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.