Renaissance Technologies LLC Grows Stock Holdings in Nomad Foods Limited $NOMD

Renaissance Technologies LLC grew its position in Nomad Foods Limited (NYSE:NOMD) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,024,282 shares of the company’s stock after buying an additional 172,215 shares during the quarter. Renaissance Technologies LLC owned 2.13% of Nomad Foods worth $29,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NOMD. Ruffer LLP purchased a new stake in Nomad Foods during the fourth quarter worth about $26,823,000. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Nomad Foods in the fourth quarter valued at approximately $11,147,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Nomad Foods in the fourth quarter valued at approximately $10,979,000. Brigade Capital Management LP acquired a new position in shares of Nomad Foods in the fourth quarter valued at approximately $10,946,000. Finally, Balyasny Asset Management L.P. purchased a new stake in Nomad Foods during the 4th quarter worth approximately $9,722,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Nomad Foods Price Performance

Nomad Foods stock opened at $12.22 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.66 and a debt-to-equity ratio of 0.91. The company has a fifty day simple moving average of $10.81 and a 200-day simple moving average of $10.82. The stock has a market cap of $1.71 billion, a P/E ratio of 11.87 and a beta of 0.69. Nomad Foods Limited has a 12-month low of $8.99 and a 12-month high of $17.71.

Nomad Foods (NYSE:NOMD) last posted its 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. The firm had revenue of $827.87 million for the quarter, compared to analyst estimates 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 in the prior year, the company posted $0.21 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. Equities analysts expect that Nomad Foods Limited will post 1.75 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Tuesday, May 12th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Tuesday, May 12th. Nomad Foods’s dividend payout ratio is 66.02%.

Insider Buying and Selling at Nomad Foods

In related news, CEO Dominic Brisby purchased 150,000 shares of the company’s stock in a transaction 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 completion of the purchase, the chief executive officer directly owned 676,794 shares of the company’s stock, valued at approximately $6,625,813.26. This trade represents a 28.47% increase in their position. The purchase was disclosed in a legal filing with the SEC, 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 on Wednesday, May 13th. The shares were bought at an average cost of $9.13 per share, for a total transaction of $913,000.00. Following the acquisition, the director owned 116,916 shares of the company’s stock, valued at $1,067,443.08. This represents a 591.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 264,731 shares of company stock worth $2,524,538 over the last three months.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 2nd. Barclays upped their price objective 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 reiterated a “buy” rating and issued a $15.00 price objective on shares of Nomad Foods in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $11.00 target price on shares of Nomad Foods in a research note on Tuesday, July 21st. Finally, Zacks Research upgraded Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.25.

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.