Raymond James & Associates Decreases Holdings in Nomad Foods Limited (NYSE:NOMD)

Raymond James & Associates decreased its position in Nomad Foods Limited (NYSE:NOMD) by 5.0% during the third quarter, Holdings Channel reports. The fund owned 303,679 shares of the company’s stock after selling 15,969 shares during the period. Raymond James & Associates’ holdings in Nomad Foods were worth $5,788,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Nomad Foods by 133.2% in the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock worth $27,000 after purchasing an additional 934 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Nomad Foods during the 2nd quarter valued at $42,000. National Bank of Canada FI increased its stake in Nomad Foods by 378.4% in the 2nd quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock worth $46,000 after buying an additional 2,195 shares in the last quarter. Quarry LP boosted its stake in shares of Nomad Foods by 366.5% in the second quarter. Quarry LP now owns 3,004 shares of the company’s stock worth $50,000 after acquiring an additional 2,360 shares during the period. Finally, nVerses Capital LLC purchased a new position in Nomad Foods in the 2nd quarter worth approximately $120,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Nomad Foods Stock Performance

Shares of NYSE:NOMD opened at $17.55 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.73 and a current ratio of 1.17. The firm’s 50 day simple moving average is $18.54 and its 200-day simple moving average is $18.08. The firm has a market cap of $2.86 billion, a PE ratio of 14.63 and a beta of 0.78. Nomad Foods Limited has a one year low of $13.67 and a one year high of $20.05.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. The firm had revenue of $810.64 million for the quarter, compared to the consensus estimate of $822.21 million. As a group, equities analysts predict that Nomad Foods Limited will post 1.96 EPS for the current year.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 8th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 3.42%. Nomad Foods’s dividend payout ratio (DPR) is 50.00%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NOMD shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Nomad Foods from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Barclays lowered their target price on Nomad Foods from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Finally, StockNews.com raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a research note on Friday, October 25th.

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.