Nomad Foods (NYSE:NOMD) Sees Large Volume Increase – Here’s Why

Shares of Nomad Foods Limited (NYSE:NOMD) saw an uptick in trading volume on Wednesday . Approximately 4,268,868 shares were traded during trading, an increase of 163% from the previous session’s volume of 1,621,649 shares.The stock last traded at $11.9650 and had previously closed at $11.42.

Analysts Set New Price Targets

Several research firms have commented on NOMD. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $11.00 target price on shares of Nomad Foods in a report on Tuesday, July 21st. BTIG Research restated a “buy” rating and set a $15.00 price target on shares of Nomad Foods in a report on Friday, August 14th. Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday. Barclays lifted their price target on Nomad Foods from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Finally, Weiss Ratings raised shares of Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 2nd. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.25.

Nomad Foods Stock Down 2.8%

The company has a market cap of $1.62 billion, a P/E ratio of 11.38 and a beta of 0.69. The company’s 50-day moving average is $11.39 and its two-hundred day moving average is $10.80. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.10 and a quick ratio of 0.66.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. Nomad Foods had a return on equity of 8.88% and a net margin of 4.20%.The business had revenue of $825.94 million for the quarter, compared to analysts’ expectations of $825.02 million. During the same period in the prior year, the firm posted $0.40 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. As a group, equities analysts predict that Nomad Foods Limited will post 1.69 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, August 11th. Nomad Foods’s dividend payout ratio is presently 66.67%.

Institutional Investors Weigh In On Nomad Foods

Several large investors have recently bought and sold shares of NOMD. Caitong International Asset Management Co. Ltd raised its position 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 worth $29,000 after buying an additional 2,262 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Nomad Foods by 469.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company’s stock worth $30,000 after acquiring an additional 1,996 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Nomad Foods in the third quarter worth approximately $43,000. Osaic Holdings Inc. grew its stake in shares of Nomad Foods by 87.4% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after acquiring an additional 1,240 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Nomad Foods by 219.6% during the first quarter. EverSource Wealth Advisors LLC now owns 7,773 shares of the company’s stock valued at $75,000 after purchasing an additional 5,341 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors.

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.