SG Americas Securities LLC Grows Holdings in Nomad Foods Limited $NOMD

SG Americas Securities LLC boosted its position in shares of Nomad Foods Limited (NYSE:NOMD) by 150.5% during the second quarter, Holdings Channel.com reports. The fund owned 67,543 shares of the company’s stock after acquiring an additional 40,575 shares during the quarter. SG Americas Securities LLC’s holdings in Nomad Foods were worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Factorial Partners LLC raised its position in shares of Nomad Foods by 0.5% during the 1st quarter. Factorial Partners LLC now owns 192,100 shares of the company’s stock valued at $3,775,000 after purchasing an additional 1,000 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Nomad Foods by 6.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,211,211 shares of the company’s stock worth $23,800,000 after buying an additional 70,344 shares in the last quarter. Entropy Technologies LP bought a new stake in Nomad Foods during the first quarter valued at about $405,000. HighTower Advisors LLC lifted its position in shares of Nomad Foods by 12.7% in the first quarter. HighTower Advisors LLC now owns 12,729 shares of the company’s stock valued at $250,000 after acquiring an additional 1,432 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Nomad Foods by 30.0% in the first quarter. Russell Investments Group Ltd. now owns 613,669 shares of the company’s stock valued at $12,059,000 after acquiring an additional 141,667 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NOMD. Mizuho decreased their target price on Nomad Foods from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Barclays cut their price objective on shares of Nomad Foods from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Nomad Foods in a report on Friday, October 31st. Zacks Research lowered shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, September 29th. Finally, BTIG Research reiterated a “buy” rating and issued a $18.00 price target on shares of Nomad Foods in a report on Monday, November 10th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.67.

Nomad Foods Stock Performance

Shares of NYSE:NOMD opened at $12.19 on Friday. The firm has a fifty day simple moving average of $12.39 and a two-hundred day simple moving average of $15.28. Nomad Foods Limited has a 52 week low of $11.04 and a 52 week high of $20.81. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $1.87 billion, a P/E ratio of 8.35 and a beta of 0.69.

Nomad Foods (NYSE:NOMD) last announced its earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The business had revenue of $881.94 million for the quarter, compared to analysts’ expectations of $760.75 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share. On average, analysts expect that Nomad Foods Limited will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 10th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Monday, November 10th. Nomad Foods’s dividend payout ratio (DPR) is presently 47.22%.

About Nomad Foods

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.