Sound Income Strategies LLC Increases Stock Position in Nomad Foods Limited $NOMD

Sound Income Strategies LLC boosted its stake in Nomad Foods Limited (NYSE:NOMD) by 64.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 334,277 shares of the company’s stock after purchasing an additional 130,637 shares during the quarter. Sound Income Strategies LLC’s holdings in Nomad Foods were worth $3,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Polaris Capital Management LLC raised its stake in Nomad Foods by 138.8% in the third quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock valued at $45,261,000 after purchasing an additional 2,000,400 shares in the last quarter. Moody Aldrich Partners LLC raised its stake in shares of Nomad Foods by 188.1% during the third quarter. Moody Aldrich Partners LLC now owns 247,558 shares of the company’s stock worth $3,255,000 after acquiring an additional 161,623 shares in the last quarter. Norges Bank purchased a new position in shares of Nomad Foods during the second quarter worth approximately $15,603,000. American Assets Inc. purchased a new position in shares of Nomad Foods during the third quarter worth approximately $526,000. Finally, Atlantic Investment Management Inc. purchased a new position in shares of Nomad Foods during the third quarter worth approximately $9,494,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Nomad Foods Stock Down 0.7%

Shares of Nomad Foods stock opened at $9.79 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.07. Nomad Foods Limited has a 52-week low of $9.43 and a 52-week high of $20.29. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 9.59 and a beta of 0.74. The company’s 50 day moving average price is $11.16 and its 200-day moving average price is $11.85.

Nomad Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th were issued a $0.17 dividend. The ex-dividend date was Wednesday, February 11th. This represents a $0.68 annualized dividend and a dividend yield of 6.9%. Nomad Foods’s dividend payout ratio (DPR) is currently 66.67%.

Analyst Upgrades and Downgrades

Several research firms have commented on NOMD. Zacks Research downgraded shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Weiss Ratings downgraded shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. BTIG Research decreased their price target on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Barclays decreased their price target on shares of Nomad Foods from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Finally, 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. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nomad Foods currently has an average rating of “Hold” and a consensus price target of $12.75.

Nomad Foods 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.