Royce & Associates LP Trims Stake in Nomad Foods Limited (NYSE:NOMD)

Royce & Associates LP reduced its stake in Nomad Foods Limited (NYSE:NOMD) by 52.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 486,865 shares of the company’s stock after selling 534,749 shares during the quarter. Royce & Associates LP’s holdings in Nomad Foods were worth $8,170,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NOMD. Nomura Asset Management Co. Ltd. increased 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 purchasing an additional 800 shares in the last quarter. Blue Trust Inc. boosted its holdings 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 buying an additional 1,448 shares during the period. Parkside Financial Bank & Trust increased 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 buying an additional 670 shares in the last quarter. Avior Wealth Management LLC raised its holdings in Nomad Foods by 25.8% during the third quarter. Avior Wealth Management LLC now owns 3,920 shares of the company’s stock valued at $75,000 after acquiring an additional 804 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Nomad Foods in the fourth quarter valued at about $83,000. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Trading Down 0.9 %

Shares of NOMD stock opened at $19.66 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 14.78 and a beta of 0.77. Nomad Foods Limited has a 12-month low of $15.43 and a 12-month high of $20.81. The stock’s 50-day moving average price is $18.11 and its 200-day moving average price is $17.93.

Nomad Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.46%. 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 is 45.03%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NOMD. Barclays increased their target price on Nomad Foods from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Mizuho lifted their price objective 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 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.