Townsend & Associates Inc Grows Stock Position in Nomad Foods Limited (NYSE:NOMD)

Townsend & Associates Inc grew its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,589,052 shares of the company’s stock after buying an additional 49,321 shares during the quarter. Nomad Foods accounts for approximately 2.8% of Townsend & Associates Inc’s portfolio, making the stock its 10th largest holding. Townsend & Associates Inc’s holdings in Nomad Foods were worth $26,807,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its stake in shares of Nomad Foods by 61.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock valued at $40,000 after buying an additional 800 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Nomad Foods by 70.6% during the fourth quarter. Blue Trust Inc. now owns 3,500 shares of the company’s stock valued at $59,000 after buying an additional 1,448 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Nomad Foods by 25.8% during the third quarter. Avior Wealth Management LLC now owns 3,920 shares of the company’s stock valued at $75,000 after buying an additional 804 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Nomad Foods during the fourth quarter worth about $83,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Nomad Foods during the fourth quarter worth about $124,000. 75.26% of the stock is owned by institutional investors.

Nomad Foods Stock Performance

Shares of NOMD opened at $18.87 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72. Nomad Foods Limited has a one year low of $15.43 and a one year high of $20.05. The company has a 50-day simple moving average of $17.12 and a two-hundred day simple moving average of $17.79. The firm has a market capitalization of $3.07 billion, a PE ratio of 14.18 and a beta of 0.79.

Nomad Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th will be issued a $0.17 dividend. The ex-dividend date is Monday, February 10th. This is a positive change from Nomad Foods’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 3.60%. Nomad Foods’s dividend payout ratio (DPR) is 51.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NOMD shares. StockNews.com upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Mizuho dropped their target price on shares of Nomad Foods from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Barclays dropped their target price on shares of Nomad Foods from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday, November 4th.

Nomad Foods Profile

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.