Fenimore Asset Management Inc Reduces Stock Position in Nomad Foods Limited $NOMD

Fenimore Asset Management Inc lessened its holdings in shares of Nomad Foods Limited (NYSE:NOMD) by 11.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 921,333 shares of the company’s stock after selling 123,431 shares during the quarter. Fenimore Asset Management Inc’s holdings in Nomad Foods were worth $15,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of Nomad Foods in the first quarter valued at approximately $32,000. State of Wyoming grew its stake in Nomad Foods by 56.6% during the 1st quarter. State of Wyoming now owns 9,466 shares of the company’s stock valued at $186,000 after acquiring an additional 3,421 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Nomad Foods in the first quarter valued at approximately $196,000. Sciencast Management LP acquired a new position in shares of Nomad Foods during the 1st quarter valued at about $196,000. Finally, First Bank & Trust acquired a new position in Nomad Foods in the 1st quarter valued at about $219,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Zacks Research lowered shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Barclays reduced their price objective on shares of Nomad Foods from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Mizuho dropped their price target on shares of Nomad Foods from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. BTIG Research decreased their target price on Nomad Foods from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nomad Foods in a report on Saturday, September 27th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nomad Foods currently has an average rating of “Moderate Buy” and an average target price of $19.75.

Nomad Foods Stock Down 1.0%

Shares of NYSE NOMD opened at $13.10 on Monday. Nomad Foods Limited has a 52 week low of $12.89 and a 52 week high of $20.81. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 8.97 and a beta of 0.70. The firm has a 50-day moving average price of $14.86 and a 200 day moving average price of $17.07. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.The firm had revenue of $879.27 million during the quarter, compared to analysts’ expectations of $762.81 million. During the same period in the previous year, the firm posted $0.44 earnings per share. Nomad Foods’s revenue was down .8% on a year-over-year basis. Equities research analysts anticipate that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.68 annualized dividend and a yield of 5.2%. Nomad Foods’s dividend payout ratio (DPR) is presently 46.58%.

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.