Doma Perpetual Buys Another $5.6 Million of Nomad Foods With the Stock Down 20% in 2026
Key Points
Purchased 487,482 Nomad Foods shares; estimated transaction value $5.60 million based on quarterly average price.
Quarter-end position value in Nomad Foods declined by $3.59 million, reflecting both share additions and price changes.
Trade represented a 1.5% shift in 13F reportable assets under management.
Post-trade, Doma Perpetual held 3,340,330 shares valued at $32.10 million.
Nomad Foods accounted for 8.62% of fund AUM, which places it outside the fund's top five holdings.
What happened
According to a filing with the Securities and Exchange Commission dated May 15, 2026, Doma Perpetual Capital Management LLC increased its position in Nomad Foods (NYSE:NOMD) by 487,482 shares during the first quarter. The estimated trade value is $5.60 million, calculated using the average unadjusted closing price for the quarter. The quarter-end value of the stake decreased by $3.59 million, reflecting both additional shares and price movement.
What else to know
This was a buy; Nomad Foods represented 8.62% of the fund's 13F assets under management after the trade.
- Top holdings after the filing:
- Pacira BioSciences: $62.78 million (16.9% of AUM)
- DaVita: $48.57 million (13.0% of AUM)
- Merchants Bancorp: $47.87 million (12.9% of AUM)
- Inmode: $41.96 million (11.3% of AUM)
- Afya: $33.98 million (9.1% of AUM)
As of May 20, 2026, shares were trading at $10.42, down 44% over the last year and underperforming the S&P 500 by 69 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $3.45 billion |
| Net Income (TTM) | $153.6 million |
| Dividend Yield | 6.53% |
| Price (as of market close 2026-05-20) | $10.42 |
Company Snapshot
- Nomad Foods Limited produces and sells frozen food products, including fish, vegetables, poultry, ready-made meals, ice cream, and bakery goods under brands such as Birds Eye, Iglo, and Findus.
- The company generates revenue primarily through direct sales to supermarkets and food retail chains across Europe, leveraging a portfolio of well-known consumer brands.
- Main customers are supermarket chains and food retailers in the United Kingdom, Italy, Germany, France, and other European markets.
Nomad Foods Limited is a leading European frozen foods company with a diverse product portfolio and strong brand recognition across multiple markets.
What this transaction means for investors
Doma Perpetual likes to run a concentrated portfolio of deep-value style stocks, and Nomad Foods certainly fits this strategy. The firm’s purchase in Q1 was its third straight in three quarters, and Nomad has quickly become a key position, accounting for 8.6% of its portfolio.
From a stock perspective, I support Doma Perpetual’s decision to “buy the dip,” and I have been doing the same. Nomad Foods is in the middle of a business transformation, with a new CEO and CFO at the helm and several cost-saving and supply chain streamlining measures underway. Management plans to cut its marketing department by roughly half and to change its supply chain to better align sell-in with sell-out, rather than “stuffing” sales at discounted prices to boost quarterly sales.
Through measures like these, Nomad hopes to achieve cost savings of $200 million, which is a healthy sum compared to the companys $145 million in FCF over the last year. Nomad remains the far-and-away No. 1 player in frozen foods across Europe, so an investment in the company today is largely a bet that the new management team will turn the ship around.
On May 15th, the company announced its CEO, CFO, director, and Co-chair all purchased NOMD stock, continuing a trend of betting on themselves, which I love to see. 2026 may be bumpy, but I believe in the management team, and I like the stability of the industry in which Nomad Foods operates. I am happy to keep buying and collecting my 6.5% dividend yield as we wait to see how the turnaround goes.
Josh Kohn-Lindquist has positions in Nomad Foods. The Motley Fool has positions in and recommends InMode. The Motley Fool recommends Nomad Foods. The Motley Fool has a disclosure policy.