Nomad Foods Limited (NYSE:NOMD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Nomad Foods Limited (NYSE:NOMD) have earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $17.00.

NOMD has been the topic of several recent analyst reports. Zacks Research raised shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nomad Foods in a report on Wednesday, January 28th. Mizuho decreased their price objective on Nomad Foods from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, January 8th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Nomad Foods in a research report on Monday, November 10th.

Institutional Investors Weigh In On Nomad Foods

Several hedge funds have recently modified their holdings of NOMD. Vontobel Holding Ltd. increased its stake in shares of Nomad Foods by 3.5% in the second quarter. Vontobel Holding Ltd. now owns 20,417 shares of the company’s stock valued at $347,000 after purchasing an additional 688 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Nomad Foods by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,048 shares of the company’s stock worth $511,000 after buying an additional 690 shares during the period. Tidal Investments LLC grew its holdings in Nomad Foods by 1.9% in the 2nd quarter. Tidal Investments LLC now owns 38,037 shares of the company’s stock worth $646,000 after buying an additional 726 shares in the last quarter. California Public Employees Retirement System increased its position in Nomad Foods by 0.4% in the 2nd quarter. California Public Employees Retirement System now owns 268,627 shares of the company’s stock valued at $4,564,000 after acquiring an additional 1,044 shares during the period. Finally, Osaic Holdings Inc. increased its position in Nomad Foods by 87.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock valued at $45,000 after acquiring an additional 1,240 shares during the period. 75.26% of the stock is owned by institutional investors and hedge funds.

Nomad Foods Trading Up 0.7%

Shares of NOMD opened at $12.99 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.59. Nomad Foods has a 1-year low of $11.04 and a 1-year high of $20.81. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 9.02 and a beta of 0.72. The firm has a 50 day simple moving average of $12.31 and a 200-day simple moving average of $13.16.

Nomad Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $0.68 annualized dividend and a yield of 5.2%. Nomad Foods’s payout ratio is 47.22%.

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.