Meritage Portfolio Management Sells 45,215 Shares of Nomad Foods Limited $NOMD

Meritage Portfolio Management cut its holdings in shares of Nomad Foods Limited (NYSE:NOMD) by 11.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 343,215 shares of the company’s stock after selling 45,215 shares during the period. Meritage Portfolio Management owned about 0.22% of Nomad Foods worth $4,513,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NOMD. Polaris Capital Management LLC raised its holdings in shares of Nomad Foods by 138.8% during the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock worth $45,261,000 after buying an additional 2,000,400 shares in the last quarter. Kiker Wealth Management LLC grew its position in Nomad Foods by 48.3% in the third quarter. Kiker Wealth Management LLC now owns 126,403 shares of the company’s stock valued at $1,662,000 after acquiring an additional 41,164 shares during the last quarter. Miller Howard Investments Inc. NY raised its stake in Nomad Foods by 7.7% during the third quarter. Miller Howard Investments Inc. NY now owns 28,430 shares of the company’s stock worth $374,000 after acquiring an additional 2,034 shares in the last quarter. Townsend & Associates Inc lifted its holdings in shares of Nomad Foods by 6.0% in the third quarter. Townsend & Associates Inc now owns 764,872 shares of the company’s stock worth $9,347,000 after acquiring an additional 43,110 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its stake in shares of Nomad Foods by 188.1% in the 3rd quarter. Moody Aldrich Partners LLC now owns 247,558 shares of the company’s stock valued at $3,255,000 after purchasing an additional 161,623 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NOMD shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nomad Foods in a research report on Friday, October 31st. Mizuho decreased their target price on shares of Nomad Foods from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, January 8th. BTIG Research reiterated a “buy” rating and set a $18.00 price target on shares of Nomad Foods in a report on Monday, November 10th. Finally, Zacks Research raised Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nomad Foods presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Nomad Foods Price Performance

Shares of NOMD opened at $11.85 on Thursday. The business has a 50-day moving average of $12.23 and a 200-day moving average of $13.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.59. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 8.23 and a beta of 0.71. Nomad Foods Limited has a 1 year low of $11.04 and a 1 year high of $20.81.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Nomad Foods had a return on equity of 9.73% and a net margin of 6.56%.The firm had revenue of $881.94 million during the quarter, compared to analyst estimates of $760.75 million. During the same quarter last year, the firm posted $0.55 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities research analysts anticipate that Nomad Foods Limited will post 1.82 earnings per share for the current year.

Nomad Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Monday, November 10th. Nomad Foods’s dividend payout ratio (DPR) is presently 47.22%.

Nomad Foods Company 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.