Invenomic Capital Management LP Grows Stock Holdings in Nomad Foods Limited (NYSE:NOMD)

Invenomic Capital Management LP raised its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 6.4% in the 3rd quarter, Holdings Channel reports. The fund owned 1,532,709 shares of the company’s stock after acquiring an additional 92,844 shares during the quarter. Nomad Foods accounts for approximately 1.6% of Invenomic Capital Management LP’s portfolio, making the stock its 16th biggest position. Invenomic Capital Management LP’s holdings in Nomad Foods were worth $29,213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of Nomad Foods by 133.2% during the second quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock worth $27,000 after purchasing an additional 934 shares during the last quarter. Headlands Technologies LLC purchased a new position in Nomad Foods in the 2nd quarter valued at $42,000. National Bank of Canada FI increased its stake in Nomad Foods by 378.4% in the 2nd quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $46,000 after buying an additional 2,195 shares during the period. Quarry LP raised its position in Nomad Foods by 366.5% during the 2nd quarter. Quarry LP now owns 3,004 shares of the company’s stock worth $50,000 after buying an additional 2,360 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of Nomad Foods by 25.8% in the third quarter. Avior Wealth Management LLC now owns 3,920 shares of the company’s stock valued at $75,000 after acquiring an additional 804 shares in the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NOMD. Deutsche Bank Aktiengesellschaft dropped their price target on Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating in a report on Monday, November 18th.

Nomad Foods Stock Down 2.2 %

Shares of NYSE:NOMD opened at $17.92 on Tuesday. Nomad Foods Limited has a 1 year low of $15.99 and a 1 year high of $20.05. The stock has a 50-day simple moving average of $17.75 and a 200-day simple moving average of $17.92. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.20. The stock has a market capitalization of $2.92 billion, a P/E ratio of 13.47 and a beta of 0.78.

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 8th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Friday, November 8th. Nomad Foods’s dividend payout ratio (DPR) is 45.11%.

About Nomad Foods

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.