Nomad Foods’ (NOMD) Hold Rating Reiterated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reaffirmed their hold rating on shares of Nomad Foods (NYSE:NOMD) in a research note issued to investors on Monday morning, Marketbeat reports. Deutsche Bank Aktiengesellschaft currently has a $10.00 price target on the stock, down from their previous price target of $15.00.

Other equities analysts have also recently issued research reports about the company. Barclays dropped their target price on Nomad Foods from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Zacks Research cut Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Mizuho decreased their price target on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. BTIG Research dropped their price objective on Nomad Foods from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Finally, Weiss Ratings downgraded Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Nomad Foods presently has an average rating of “Hold” and a consensus target price of $12.75.

Nomad Foods Trading Down 0.5%

Shares of Nomad Foods stock opened at $9.56 on Monday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 9.38 and a beta of 0.74. Nomad Foods has a 52-week low of $9.43 and a 52-week high of $20.29. The company’s 50-day simple moving average is $11.36 and its 200-day simple moving average is $11.98. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.90.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date was Wednesday, February 11th. Nomad Foods’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Investors Weigh In On Nomad Foods

A number of institutional investors and hedge funds have recently modified their holdings of NOMD. Royal Bank of Canada increased its stake in Nomad Foods by 9.2% in the 1st quarter. Royal Bank of Canada now owns 143,968 shares of the company’s stock valued at $2,829,000 after purchasing an additional 12,131 shares in the last quarter. Millennium Management LLC boosted its position in Nomad Foods by 81.3% during the first quarter. Millennium Management LLC now owns 656,686 shares of the company’s stock worth $12,904,000 after purchasing an additional 294,386 shares in the last quarter. Jane Street Group LLC boosted its position in Nomad Foods by 50.2% during the first quarter. Jane Street Group LLC now owns 75,847 shares of the company’s stock worth $1,490,000 after purchasing an additional 25,358 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Nomad Foods in the second quarter valued at $221,000. Finally, JPMorgan Chase & Co. grew its holdings in Nomad Foods by 427.3% in the second quarter. JPMorgan Chase & Co. now owns 105,871 shares of the company’s stock valued at $1,799,000 after purchasing an additional 85,793 shares during the last quarter. Institutional investors and hedge funds 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.