Nomad Foods Limited (NYSE:NOMD) is Polaris Capital Management LLC’s 10th Largest Position

Polaris Capital Management LLC trimmed its holdings in Nomad Foods Limited (NYSE:NOMD) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,661,800 shares of the company’s stock after selling 476,400 shares during the quarter. Nomad Foods comprises approximately 2.2% of Polaris Capital Management LLC’s portfolio, making the stock its 10th largest holding. Polaris Capital Management LLC’s holdings in Nomad Foods were worth $44,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. increased its stake in Nomad Foods by 61.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock worth $40,000 after acquiring an additional 800 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Nomad Foods by 70.6% during the 4th quarter. Blue Trust Inc. now owns 3,500 shares of the company’s stock worth $59,000 after purchasing an additional 1,448 shares during the period. Avior Wealth Management LLC raised its holdings in Nomad Foods by 25.8% in the 3rd 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 period. R Squared Ltd acquired a new position in Nomad Foods in the fourth quarter valued at about $83,000. Finally, Barclays PLC boosted its stake in Nomad Foods by 53.7% during the third quarter. Barclays PLC now owns 7,681 shares of the company’s stock worth $146,000 after buying an additional 2,682 shares during the period. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Stock Performance

Shares of Nomad Foods stock opened at $17.43 on Tuesday. 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 $20.05. The company has a market cap of $2.84 billion, a PE ratio of 13.10 and a beta of 0.79. The business has a 50-day simple moving average of $17.04 and a 200-day simple moving average of $17.81.

Nomad Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th will be given a dividend of $0.17 per share. This is a boost from Nomad Foods’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Monday, February 10th. Nomad Foods’s payout ratio is 45.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Monday, November 4th. StockNews.com raised Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Mizuho lowered their target price on Nomad Foods from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, Barclays reduced their price target on shares of Nomad Foods from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th.

Nomad Foods Company 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.