Nomad Foods Limited $NOMD Shares Acquired by Meritage Portfolio Management

Meritage Portfolio Management increased its position in Nomad Foods Limited (NYSE:NOMD) by 29.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 445,889 shares of the company’s stock after acquiring an additional 102,674 shares during the period. Meritage Portfolio Management owned approximately 0.29% of Nomad Foods worth $5,578,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Merit Financial Group LLC acquired a new stake in Nomad Foods during the 4th quarter valued at $381,000. Townsend & Associates Inc grew its holdings in Nomad Foods by 5.4% during the 4th quarter. Townsend & Associates Inc now owns 806,459 shares of the company’s stock valued at $9,605,000 after buying an additional 41,587 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Nomad Foods by 11.7% during the 4th quarter. Farther Finance Advisors LLC now owns 32,829 shares of the company’s stock valued at $411,000 after buying an additional 3,448 shares during the last quarter. Sound Income Strategies LLC grew its holdings in Nomad Foods by 64.2% during the 4th quarter. Sound Income Strategies LLC now owns 334,277 shares of the company’s stock valued at $3,894,000 after buying an additional 130,637 shares during the last quarter. Finally, Thompson Investment Management Inc. grew its holdings in Nomad Foods by 36.2% during the 4th quarter. Thompson Investment Management Inc. now owns 311,131 shares of the company’s stock valued at $3,892,000 after buying an additional 82,745 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on NOMD. Barclays lowered their target price on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. BTIG Research reduced their price target on Nomad Foods from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Weiss Ratings lowered Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Finally, Mizuho reduced their price target on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Nomad Foods currently has a consensus rating of “Hold” and a consensus price target of $12.50.

Nomad Foods Trading Down 0.9%

Shares of Nomad Foods stock opened at $9.66 on Tuesday. Nomad Foods Limited has a fifty-two week low of $9.43 and a fifty-two week high of $20.29. The firm has a market cap of $1.37 billion, a PE ratio of 9.47 and a beta of 0.74. The business’s fifty day moving average is $10.62 and its two-hundred day moving average is $11.64. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.90.

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 11th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend was Wednesday, February 11th. Nomad Foods’s dividend payout ratio (DPR) is 66.67%.

Nomad Foods Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.