Wellington Management Group LLP Cuts Position in Nomad Foods Limited $NOMD

Wellington Management Group LLP lowered its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,548,679 shares of the company’s stock after selling 55,111 shares during the period. Wellington Management Group LLP owned about 1.11% of Nomad Foods worth $16,958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Tidal Investments LLC grew its holdings in shares of Nomad Foods by 1.9% in the 2nd quarter. Tidal Investments LLC now owns 38,037 shares of the company’s stock worth $646,000 after acquiring an additional 726 shares during the period. California Public Employees Retirement System grew its holdings in Nomad Foods by 0.4% in the second quarter. California Public Employees Retirement System now owns 268,627 shares of the company’s stock valued at $4,564,000 after purchasing an additional 1,044 shares during the last quarter. Entropy Technologies LP increased its position in shares of Nomad Foods by 1.7% in the first quarter. Entropy Technologies LP now owns 71,479 shares of the company’s stock valued at $687,000 after buying an additional 1,188 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Nomad Foods by 87.4% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock valued at $45,000 after buying an additional 1,240 shares in the last quarter. Finally, Nebula Research & Development LLC raised its stake in shares of Nomad Foods by 4.4% during the 2nd quarter. Nebula Research & Development LLC now owns 35,152 shares of the company’s stock worth $597,000 after buying an additional 1,481 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Nomad Foods

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

Analyst Ratings Changes

A number of brokerages recently commented on NOMD. Barclays increased their price objective 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. BTIG Research reaffirmed a “buy” rating and issued a $15.00 price target on shares of Nomad Foods in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $11.00 price target on shares of Nomad Foods in a research report on Tuesday, July 21st. Zacks Research downgraded Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Finally, Weiss Ratings raised Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.25.

Nomad Foods Stock Performance

Shares of NOMD opened at $11.65 on Monday. Nomad Foods Limited has a 1 year low of $8.99 and a 1 year high of $15.27. The company’s 50 day simple moving average is $11.71 and its 200 day simple moving average is $10.72. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 11.42 and a beta of 0.69. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.10.

Nomad Foods (NYSE:NOMD) last released its earnings results on Thursday, August 13th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. The firm had revenue of $825.94 million during the quarter, compared to analysts’ expectations of $825.02 million. Nomad Foods had a net margin of 4.20% and a return on equity of 8.88%. During the same period in the previous year, the company earned $0.40 EPS. Nomad Foods’s revenue for the quarter was down 3.1% on a year-over-year basis. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. On average, sell-side analysts predict that Nomad Foods Limited will post 1.69 EPS for the current year.

Nomad Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 5.8%. The ex-dividend date was Tuesday, August 11th. Nomad Foods’s dividend payout ratio is presently 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.