Nomad Foods (NYSE:NOMD) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Nomad Foods (NYSE:NOMD) from a hold rating to a strong sell rating in a research note released on Monday,Zacks.com reports.

Several other research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $11.00 price target on shares of Nomad Foods in a research report on Tuesday, July 21st. BTIG Research reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Nomad Foods in a research note on Friday, August 14th. Barclays lifted their target price on Nomad Foods from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Finally, Weiss Ratings raised 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.25.

Nomad Foods Price Performance

NOMD stock opened at $11.44 on Monday. Nomad Foods has a 52 week low of $8.99 and a 52 week high of $15.91. The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 0.90. The company has a fifty day simple moving average of $11.33 and a two-hundred day simple moving average of $10.81. The firm has a market capitalization of $1.60 billion, a P/E ratio of 11.21 and a beta of 0.69.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. Nomad Foods had a net margin of 4.20% and a return on equity of 8.88%. The business had revenue of $825.94 million during the quarter, compared to analysts’ expectations of $825.02 million. During the same period last year, the company posted $0.40 EPS. The business’s 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. Analysts anticipate that Nomad Foods will post 1.69 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be paid 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 payout ratio is currently 66.67%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. WealthCollab LLC lifted its holdings in Nomad Foods by 242.0% during the 4th quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock valued at $26,000 after buying an additional 1,452 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake 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 acquiring an additional 2,262 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Nomad Foods by 469.6% in the 4th 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 in the last quarter. Osaic Holdings Inc. increased its position in shares of Nomad Foods by 87.4% during 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, Johnson Financial Group Inc. purchased a new position in shares of Nomad Foods during the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Nomad Foods Company Profile

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.