Nomad Foods Limited (NYSE:NOMD) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Nomad Foods Limited (NYSE:NOMD) have been given an average rating of “Hold” by the five brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $13.6667.

NOMD has been the topic of several recent research reports. Weiss Ratings lowered Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Mizuho dropped their price objective on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Barclays cut their target price on Nomad Foods from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. BTIG Research decreased their target price on Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Finally, Zacks Research cut Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd.

Institutional Investors Weigh In On Nomad Foods

Several hedge funds have recently bought and sold shares of NOMD. Tidal Investments LLC boosted its position in shares of Nomad Foods by 1.9% during the second quarter. Tidal Investments LLC now owns 38,037 shares of the company’s stock worth $646,000 after purchasing an additional 726 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Nomad Foods by 3.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 30,987 shares of the company’s stock valued at $407,000 after buying an additional 939 shares in the last quarter. California Public Employees Retirement System increased its position in shares of 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 buying an additional 1,044 shares in the last quarter. Osaic Holdings Inc. raised its stake in Nomad Foods by 87.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after buying an additional 1,240 shares during the period. Finally, Legend Financial Advisors Inc. raised its stake in Nomad Foods by 3.4% during the 3rd quarter. Legend Financial Advisors Inc. now owns 41,689 shares of the company’s stock worth $548,000 after buying an additional 1,362 shares during the period. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Price Performance

NOMD opened at $9.71 on Wednesday. The company has a fifty day moving average price of $11.61 and a two-hundred day moving average price of $12.15. The firm has a market capitalization of $1.38 billion, a PE ratio of 9.51 and a beta of 0.74. Nomad Foods has a 52 week low of $9.54 and a 52 week high of $20.29. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.07.

Nomad Foods Announces Dividend

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

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.