Nomad Foods Limited $NOMD Shares Purchased by Meritage Portfolio Management

Meritage Portfolio Management boosted its stake in Nomad Foods Limited (NYSE:NOMD) by 29.9% in the 4th quarter, Holdings Channel reports. The firm owned 445,889 shares of the company’s stock after buying an additional 102,674 shares during the quarter. Meritage Portfolio Management’s holdings in Nomad Foods were worth $5,578,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. acquired a new stake in Nomad Foods in the 3rd quarter valued at $43,000. Mondrian Investment Partners LTD acquired a new stake in Nomad Foods in the 3rd quarter valued at $44,000. Osaic Holdings Inc. increased its holdings in Nomad Foods by 87.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock valued at $45,000 after purchasing an additional 1,240 shares in the last quarter. Arizona PSPRS Trust acquired a new stake in Nomad Foods in the 3rd quarter valued at $121,000. Finally, Virtu Financial LLC acquired a new stake in Nomad Foods in the 3rd quarter valued at $144,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Nomad Foods Stock Down 0.9%

Shares of Nomad Foods stock opened at $9.66 on Tuesday. The business has a 50-day moving average of $10.62 and a 200-day moving average of $11.64. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 0.66. The company has a market capitalization of $1.37 billion, a PE ratio of 9.47 and a beta of 0.74. Nomad Foods Limited has a 1-year low of $9.43 and a 1-year high of $20.29.

Nomad Foods Announces Dividend

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

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.