Nomad Foods (NYSE:NOMD) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Nomad Foods (NYSE:NOMD) from a strong sell rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

NOMD has been the subject of a number of other research reports. Mizuho dropped their target price on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Barclays dropped their target price on shares of Nomad Foods from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, April 14th. BTIG Research reiterated a “buy” rating and set a $15.00 target price on shares of Nomad Foods in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 target price (down from $15.00) on shares of Nomad Foods in a research report on Monday, March 30th. Finally, Weiss Ratings upgraded shares of Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Nomad Foods Trading Up 7.5%

Shares of NOMD stock opened at $9.77 on Wednesday. Nomad Foods has a 52-week low of $8.99 and a 52-week high of $18.33. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 9.49 and a beta of 0.69. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.66 and a current ratio of 1.06. The firm has a fifty day moving average of $9.74 and a 200-day moving average of $11.33.

Nomad Foods (NYSE:NOMD) last announced its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. The business had revenue of $827.87 million during the quarter, compared to analysts’ expectations of $804.00 million. Nomad Foods had a net margin of 4.43% and a return on equity of 9.05%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.21 EPS. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. On average, equities research analysts forecast that Nomad Foods will post 1.81 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Tuesday, May 12th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 7.0%. The ex-dividend date is Tuesday, May 12th. Nomad Foods’s dividend payout ratio (DPR) is presently 66.02%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. WealthCollab LLC boosted its stake in shares of Nomad Foods by 242.0% in the 4th quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock valued at $26,000 after purchasing an additional 1,452 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 purchasing an additional 2,262 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of 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 purchasing an additional 1,996 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of 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 purchasing an additional 1,240 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Nomad Foods in the 3rd quarter valued at about $43,000. Institutional investors own 75.26% of the company’s stock.

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.