Russell Investments Group Ltd. Trims Position in Nomad Foods Limited (NYSE:NOMD)

Russell Investments Group Ltd. reduced its position in Nomad Foods Limited (NYSE:NOMD) by 62.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 472,002 shares of the company’s stock after selling 776,155 shares during the period. Russell Investments Group Ltd.’s holdings in Nomad Foods were worth $7,920,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN grew its position in shares of Nomad Foods by 4.7% in the fourth quarter. Wells Fargo & Company MN now owns 81,645 shares of the company’s stock valued at $1,370,000 after purchasing an additional 3,632 shares during the period. ExodusPoint Capital Management LP boosted its stake in Nomad Foods by 212.2% in the 4th quarter. ExodusPoint Capital Management LP now owns 143,300 shares of the company’s stock worth $2,405,000 after buying an additional 97,395 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Nomad Foods in the 4th quarter valued at about $76,000. Alliancebernstein L.P. increased its stake in shares of Nomad Foods by 2.5% during the 4th quarter. Alliancebernstein L.P. now owns 7,708,354 shares of the company’s stock valued at $129,346,000 after acquiring an additional 187,146 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Nomad Foods during the 4th quarter worth about $27,386,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on NOMD. StockNews.com raised shares of Nomad Foods from a “buy” rating to a “strong-buy” rating in a research report on Friday. Mizuho upped their price objective on Nomad Foods from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Finally, Barclays lifted their target price on Nomad Foods from $19.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, March 3rd.

Nomad Foods Trading Up 1.1 %

NYSE NOMD opened at $19.10 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.20. Nomad Foods Limited has a one year low of $15.43 and a one year high of $20.81. The company’s 50 day moving average price is $19.10 and its 200 day moving average price is $17.96. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 14.36 and a beta of 0.83.

Nomad Foods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were issued a dividend of $0.17 per share. This is a positive change from Nomad Foods’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.68 annualized dividend and a dividend yield of 3.56%. Nomad Foods’s payout ratio is presently 45.03%.

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.