Lazard Asset Management LLC Invests $3.03 Million in Nomad Foods Limited $NOMD

Lazard Asset Management LLC purchased a new stake in Nomad Foods Limited (NYSE:NOMD) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 315,208 shares of the company’s stock, valued at approximately $3,029,000. Lazard Asset Management LLC owned approximately 0.23% of Nomad Foods at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ruffer LLP acquired a new position in shares of Nomad Foods during the 4th quarter worth $26,823,000. Lombard Odier Asset Management Europe Ltd purchased a new position in Nomad Foods in the fourth quarter valued at about $11,147,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Nomad Foods during the 4th quarter valued at approximately $10,979,000. Brigade Capital Management LP acquired a new stake in shares of Nomad Foods during the 4th quarter valued at approximately $10,946,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Nomad Foods during the 4th quarter worth approximately $9,722,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Trading Down 3.8%

Shares of NOMD opened at $11.93 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.06 and a quick ratio of 0.66. Nomad Foods Limited has a 1-year low of $8.99 and a 1-year high of $17.30. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 11.59 and a beta of 0.69. The firm has a 50 day simple moving average of $10.93 and a 200-day simple moving average of $10.84.

Nomad Foods (NYSE:NOMD) last posted its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. Nomad Foods had a return on equity of 9.05% and a net margin of 4.43%.The firm had revenue of $827.87 million for the quarter, compared to analyst estimates of $804.00 million. During the same quarter in the prior year, the company earned $0.21 EPS. Nomad Foods’s revenue was down 5.9% on a year-over-year basis. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. Equities analysts forecast that Nomad Foods Limited will post 1.75 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Nomad Foods’s payout ratio is 66.02%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NOMD shares. Zacks Research upgraded Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Barclays boosted their target price on Nomad Foods from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. BTIG Research restated a “buy” rating and issued a $15.00 price target on shares of Nomad Foods in a research report on Wednesday, May 13th. Weiss Ratings upgraded Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $11.00 price target on shares of Nomad Foods in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.25.

Insider Activity

In related news, CFO Ruben Baldew acquired 14,731 shares of Nomad Foods stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $9.71 per share, for a total transaction of $143,038.01. Following the completion of the transaction, the chief financial officer directly owned 338,882 shares of the company’s stock, valued at $3,290,544.22. The trade was a 4.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Dominic Brisby acquired 150,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $9.79 per share, for a total transaction of $1,468,500.00. Following the purchase, the chief executive officer owned 676,794 shares of the company’s stock, valued at approximately $6,625,813.26. The trade was a 28.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 264,731 shares of company stock worth $2,524,538 over the last three months. 17.27% of the stock is currently owned by corporate insiders.

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.