Nomad Foods Limited $NOMD is Atlantic Investment Management Inc.’s 10th Largest Position

Atlantic Investment Management Inc. reduced its position in Nomad Foods Limited (NYSE:NOMD) by 25.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 538,772 shares of the company’s stock after selling 183,228 shares during the quarter. Nomad Foods comprises about 3.8% of Atlantic Investment Management Inc.’s holdings, making the stock its 10th largest position. Atlantic Investment Management Inc.’s holdings in Nomad Foods were worth $6,740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Royal Bank of Canada boosted its position in shares of Nomad Foods by 9.2% in the 1st quarter. Royal Bank of Canada now owns 143,968 shares of the company’s stock worth $2,829,000 after buying an additional 12,131 shares in the last quarter. Millennium Management LLC boosted its position in shares of Nomad Foods by 81.3% in the 1st quarter. Millennium Management LLC now owns 656,686 shares of the company’s stock worth $12,904,000 after buying an additional 294,386 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Nomad Foods by 50.2% in the 1st quarter. Jane Street Group LLC now owns 75,847 shares of the company’s stock worth $1,490,000 after buying an additional 25,358 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Nomad Foods in the 2nd quarter worth about $221,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Nomad Foods by 427.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 105,871 shares of the company’s stock worth $1,799,000 after buying an additional 85,793 shares in the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on NOMD. Mizuho decreased their price target on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings cut shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Zacks Research raised shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. BTIG Research reaffirmed a “buy” rating and set a $15.00 price target on shares of Nomad Foods in a research note on Wednesday, May 13th. Finally, Barclays decreased their price target on shares of Nomad Foods from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.50.

Nomad Foods Trading Down 1.6%

Shares of NOMD stock opened at $10.05 on Thursday. The firm has a market cap of $1.40 billion, a P/E ratio of 9.76 and a beta of 0.70. Nomad Foods Limited has a 1-year low of $8.99 and a 1-year high of $18.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.06 and a quick ratio of 0.66. The firm’s 50-day simple moving average is $9.89 and its 200-day simple moving average is $11.04.

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

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Tuesday, May 12th were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.68 annualized dividend and a yield of 6.8%. Nomad Foods’s dividend payout ratio (DPR) is 66.02%.

Insider Buying and Selling at Nomad Foods

In related news, CEO Dominic Brisby purchased 150,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $9.79 per share, with a total value of $1,468,500.00. Following the completion of the transaction, the chief executive officer owned 676,794 shares of the company’s stock, valued at $6,625,813.26. This represents a 28.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ruben Baldew purchased 14,731 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $9.71 per share, with a total value of $143,038.01. Following the transaction, the chief financial officer directly owned 338,882 shares of the company’s stock, valued at approximately $3,290,544.22. This represents a 4.54% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 264,731 shares of company stock valued at $2,524,538 over the last 90 days. 17.27% of the stock is 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.