Sei Investments Co. Has $4.99 Million Position in Nomad Foods Limited $NOMD

Sei Investments Co. grew its stake in Nomad Foods Limited (NYSE:NOMD) by 68.6% in the first quarter, HoldingsChannel.com reports. The fund owned 518,813 shares of the company’s stock after acquiring an additional 211,183 shares during the period. Sei Investments Co.’s holdings in Nomad Foods were worth $4,986,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Royal Bank of Canada raised its holdings in Nomad Foods by 9.2% in the first quarter. Royal Bank of Canada now owns 143,968 shares of the company’s stock worth $2,829,000 after purchasing an additional 12,131 shares during the period. Millennium Management LLC boosted its position in shares of Nomad Foods by 81.3% during the first quarter. Millennium Management LLC now owns 656,686 shares of the company’s stock worth $12,904,000 after purchasing an additional 294,386 shares in the last quarter. Jane Street Group LLC grew its holdings 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 valued at $1,490,000 after buying an additional 25,358 shares during the period. Cetera Investment Advisers bought a new stake in shares of Nomad Foods in the 2nd quarter valued at $221,000. Finally, JPMorgan Chase & Co. increased 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 valued at $1,799,000 after buying an additional 85,793 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Stock Down 0.8%

Shares of NOMD stock opened at $11.81 on Thursday. The firm’s fifty day moving average price is $11.04 and its two-hundred day moving average price is $10.83. The company has a current ratio of 1.06, a quick ratio of 0.66 and a debt-to-equity ratio of 0.91. Nomad Foods Limited has a 1 year low of $8.99 and a 1 year high of $16.29. The firm has a market capitalization of $1.65 billion, a P/E ratio of 11.47 and a beta of 0.69.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06. The company had revenue of $827.87 million during the quarter, compared to analysts’ expectations of $804.00 million. Nomad Foods had a return on equity of 9.05% and a net margin of 4.43%.Nomad Foods’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 EPS. On average, equities analysts predict that Nomad Foods Limited will post 1.75 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.68 annualized dividend and a yield of 5.8%. Nomad Foods’s dividend payout ratio is 66.02%.

Insider Buying and Selling at Nomad Foods

In related news, CFO Ruben Baldew acquired 14,731 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $9.71 per share, for a total transaction of $143,038.01. Following the purchase, the chief financial officer directly owned 338,882 shares in the company, valued at approximately $3,290,544.22. This trade represents a 4.54% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ian G. H. Ashken acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $9.13 per share, with a total value of $913,000.00. Following the acquisition, the director owned 116,916 shares in the company, valued at $1,067,443.08. The trade was a 591.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 264,731 shares of company stock worth $2,524,538 over the last ninety days. 17.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

About Nomad Foods

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.