110,075 Shares in Nomad Foods Limited $NOMD Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC bought a new position in shares of Nomad Foods Limited (NYSE:NOMD) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 110,075 shares of the company’s stock, valued at approximately $1,137,000.

Other hedge funds also recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its holdings in Nomad Foods by 3.9% during the third quarter. Oppenheimer & Co. Inc. now owns 79,000 shares of the company’s stock worth $816,000 after acquiring an additional 3,000 shares in the last quarter. Noesis Capital Mangement Corp acquired a new position in shares of Nomad Foods during the 3rd quarter worth approximately $516,000. Townsend & Associates Inc increased its position in shares of Nomad Foods by 4.4% during the 3rd quarter. Townsend & Associates Inc now owns 954,647 shares of the company’s stock worth $9,862,000 after purchasing an additional 40,451 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Nomad Foods by 29.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 532,129 shares of the company’s stock worth $5,497,000 after purchasing an additional 119,759 shares in the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of Nomad Foods by 0.5% during the 3rd quarter. Sound Income Strategies LLC now owns 688,961 shares of the company’s stock worth $7,613,000 after purchasing an additional 3,264 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

Insider Activity at Nomad Foods

In other news, CEO Dominic Brisby bought 50,000 shares of the stock in a transaction dated Monday, August 24th. The shares were bought at an average price of $12.38 per share, for a total transaction of $619,000.00. Following the completion of the purchase, the chief executive officer owned 726,794 shares in the company, valued at approximately $8,997,709.72. This trade represents a 7.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ruben Baldew purchased 28,290 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average cost of $11.85 per share, with a total value of $335,236.50. Following the completion of the acquisition, the chief financial officer owned 367,172 shares in the company, valued at $4,350,988.20. The trade was a 8.35% increase in their position. The SEC filing for this purchase provides additional information.

Analyst Upgrades and Downgrades

NOMD has been the subject of several analyst reports. Barclays raised their target price on shares of Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Jefferies Financial Group reiterated a “buy” rating and issued a $15.00 price target on shares of Nomad Foods in a research note on Wednesday, November 4th. Zacks Research downgraded shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $12.00 price objective on shares of Nomad Foods in a research note on Wednesday, October 7th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $15.00 target price on shares of Nomad Foods in a report on Thursday, November 5th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.80.

Nomad Foods Trading Down 1.5%

Shares of Nomad Foods stock opened at $11.79 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.11 and a quick ratio of 0.67. The business has a fifty day simple moving average of $11.34 and a two-hundred day simple moving average of $11.02. Nomad Foods Limited has a 1 year low of $8.99 and a 1 year high of $13.08. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 6.80 and a beta of 0.74.

Nomad Foods (NYSE:NOMD) last posted its earnings results on Thursday, August 13th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. Nomad Foods had a net margin of 4.46% and a return on equity of 8.63%. The company had revenue of $825.94 million during the quarter, compared to analysts’ expectations of $825.02 million. During the same quarter last year, the company posted $0.40 EPS. Nomad Foods’s quarterly revenue was down 3.1% compared to the same quarter last year. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. Research analysts forecast that Nomad Foods Limited will post 1.62 EPS for the current year.

Nomad Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Tuesday, November 10th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.68 annualized dividend and a dividend yield of 5.8%. Nomad Foods’s dividend payout ratio is presently 61.82%.

Nomad Foods Profile

Nomad Foods Limited is a frozen-food company focused on European markets. It sells products including frozen fish, vegetables, meals, and poultry under brands such as Birds Eye, iglo, Findus, and Aunt Bessie’s. The company was formed in 2014 and expanded through acquisitions, including the purchase of the Iglo Group in 2015. Its products are sold across multiple European countries through grocery retailers and other food channels.