Nomad Foods Limited (NYSE:NOMD) Receives $13.67 Consensus Target Price from Analysts

Shares of Nomad Foods Limited (NYSE:NOMD) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $12.75.

A number of research analysts have commented on NOMD shares. Mizuho lowered their target price on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. BTIG Research reduced their price target on Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Weiss Ratings cut Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Barclays dropped their price objective on Nomad Foods from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a research report on Monday.

Nomad Foods Stock Down 1.2%

NOMD stock opened at $9.61 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 0.66. The firm has a market capitalization of $1.37 billion, a P/E ratio of 9.42 and a beta of 0.74. Nomad Foods has a 52-week low of $9.43 and a 52-week high of $20.29. The company’s 50 day simple moving average is $11.40 and its 200-day simple moving average is $11.99.

Nomad Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 7.1%. The ex-dividend date was Wednesday, February 11th. Nomad Foods’s dividend payout ratio is 66.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. WealthCollab LLC lifted its stake in shares of Nomad Foods by 242.0% in the fourth quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock valued at $26,000 after buying an additional 1,452 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Nomad Foods by 3,231.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company’s stock valued at $29,000 after acquiring an additional 2,262 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Nomad Foods by 469.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company’s stock valued at $30,000 after acquiring an additional 1,996 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Nomad Foods in the 3rd quarter worth approximately $43,000. Finally, Mondrian Investment Partners LTD bought a new stake in shares of Nomad Foods in the 3rd quarter worth approximately $44,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Company 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.