Ruffer LLP Makes New $26.82 Million Investment in Nomad Foods Limited $NOMD

Ruffer LLP purchased a new position in Nomad Foods Limited (NYSE:NOMD) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,140,876 shares of the company’s stock, valued at approximately $26,823,000. Nomad Foods makes up about 1.2% of Ruffer LLP’s holdings, making the stock its 28th largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WealthCollab LLC raised its holdings in shares of Nomad Foods by 242.0% in the fourth quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock worth $26,000 after buying an additional 1,452 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Nomad Foods by 87.4% during the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after purchasing an additional 1,240 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Nomad Foods during the third quarter worth $43,000. Mondrian Investment Partners LTD purchased a new position in shares of Nomad Foods during the third quarter worth $44,000. Finally, Arizona PSPRS Trust purchased a new position in shares of Nomad Foods during the third quarter worth $121,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on NOMD shares. Weiss Ratings cut shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. BTIG Research reduced their target price on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Zacks Research cut shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Mizuho reduced their target price on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 target price (down from $15.00) on shares of Nomad Foods in a report on Monday, March 30th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.50.

Nomad Foods Stock Up 0.4%

NOMD stock opened at $9.71 on Wednesday. The firm has a market cap of $1.38 billion, a PE ratio of 9.51 and a beta of 0.74. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.07. The firm’s fifty day moving average is $10.55 and its 200 day moving average is $11.61. Nomad Foods Limited has a one year low of $9.43 and a one year high of $20.29.

Nomad Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 11th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 7.0%. The ex-dividend date was Wednesday, February 11th. Nomad Foods’s dividend payout ratio (DPR) is currently 66.67%.

Nomad Foods Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.