Deutsche Bank AG Trims Stock Position in Nomad Foods Limited (NYSE:NOMD)

Deutsche Bank AG cut its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 52.8% during the first quarter, HoldingsChannel.com reports. The fund owned 525,354 shares of the company’s stock after selling 587,810 shares during the quarter. Deutsche Bank AG’s holdings in Nomad Foods were worth $10,323,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Johnson Financial Group Inc. bought a new position in shares of Nomad Foods during the fourth quarter valued at approximately $62,000. Tower Research Capital LLC TRC boosted its stake in shares of Nomad Foods by 13,508.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,396 shares of the company’s stock valued at $107,000 after purchasing an additional 6,349 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Nomad Foods during the fourth quarter valued at approximately $134,000. Quarry LP boosted its stake in shares of Nomad Foods by 964.8% during the fourth quarter. Quarry LP now owns 8,646 shares of the company’s stock valued at $145,000 after purchasing an additional 7,834 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Nomad Foods during the fourth quarter valued at approximately $181,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Nomad Foods Price Performance

Shares of NOMD opened at $15.02 on Friday. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 10.29 and a beta of 0.72. Nomad Foods Limited has a twelve month low of $14.72 and a twelve month high of $20.81. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average of $17.00 and a two-hundred day moving average of $18.19.

Nomad Foods (NYSE:NOMD) last announced its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $879.27 million during the quarter, compared to the consensus estimate of $762.81 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. Nomad Foods’s revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share. As a group, analysts predict that Nomad Foods Limited will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, August 11th. Nomad Foods’s dividend payout ratio (DPR) is 46.58%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NOMD. Barclays dropped their price objective on shares of Nomad Foods from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Mizuho dropped their price objective on shares of Nomad Foods from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Wall Street Zen downgraded shares of Nomad Foods from a “buy” rating to a “hold” rating in a research note on Friday, May 9th.

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.