Nomad Foods Limited (NYSE:NOMD) Receives Average Rating of “Hold” from Analysts

Shares of Nomad Foods Limited (NYSE:NOMD) have been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $12.50.

Several analysts have issued reports on the company. Weiss Ratings downgraded Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Mizuho cut their price objective on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a report on Monday, March 30th. Barclays cut their price objective on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. Finally, Zacks Research upgraded Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th.

Insider Buying and Selling at Nomad Foods

In other Nomad Foods news, Director Ian G. H. Ashken bought 100,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of $9.13 per share, with a total value of $913,000.00. Following the purchase, the director directly owned 116,916 shares in the company, valued at $1,067,443.08. The trade was a 591.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dominic Brisby bought 150,000 shares of the stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $9.79 per share, for a total transaction of $1,468,500.00. Following the purchase, the chief executive officer owned 676,794 shares in the company, valued at approximately $6,625,813.26. This represents a 28.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 264,731 shares of company stock valued at $2,524,538 in the last 90 days. 17.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nomad Foods

Several institutional investors and hedge funds have recently bought and sold shares of the business. Alliancebernstein L.P. grew its stake in Nomad Foods by 0.4% during the 2nd quarter. Alliancebernstein L.P. now owns 7,330,537 shares of the company’s stock valued at $124,546,000 after acquiring an additional 27,177 shares in the last quarter. Renaissance Technologies LLC grew its stake in Nomad Foods by 6.0% during the 1st quarter. Renaissance Technologies LLC now owns 3,024,282 shares of the company’s stock valued at $29,063,000 after acquiring an additional 172,215 shares in the last quarter. Royce & Associates LP grew its stake in Nomad Foods by 1.3% during the 4th quarter. Royce & Associates LP now owns 2,484,858 shares of the company’s stock valued at $31,086,000 after acquiring an additional 33,052 shares in the last quarter. Ruffer LLP purchased a new position in Nomad Foods during the 4th quarter valued at about $26,823,000. Finally, Loomis Sayles & Co. L P grew its stake in Nomad Foods by 2.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,856,727 shares of the company’s stock valued at $23,228,000 after acquiring an additional 48,060 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Nomad Foods Price Performance

Shares of Nomad Foods stock opened at $9.93 on Monday. The company’s 50-day moving average price is $9.79 and its two-hundred day moving average price is $11.15. The company has a current ratio of 1.06, a quick ratio of 0.66 and a debt-to-equity ratio of 0.91. The stock has a market cap of $1.39 billion, a PE ratio of 9.64 and a beta of 0.70. Nomad Foods has a 52 week low of $8.99 and a 52 week high of $18.33.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.06. The firm had revenue of $827.87 million for the quarter, compared to the consensus estimate of $804.00 million. Nomad Foods had a return on equity of 9.05% and a net margin of 4.43%.The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. As a group, sell-side analysts anticipate that Nomad Foods will post 1.76 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 6.8%. The ex-dividend date was Tuesday, May 12th. Nomad Foods’s payout ratio is presently 66.02%.

About Nomad Foods

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.