Nomad Foods Limited (NYSE:NOMD) Given Consensus Rating of “Moderate Buy” by Brokerages

Nomad Foods Limited (NYSE:NOMD) has been given an average rating of “Moderate Buy” by the five research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.00.

Several research analysts have recently commented on the stock. Mizuho lowered their price objective on shares of Nomad Foods from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, January 8th. Zacks Research raised shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. BTIG Research restated a “buy” rating and issued a $18.00 price target on shares of Nomad Foods in a research note on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Nomad Foods in a research note on Wednesday, January 28th.

Institutional Trading of Nomad Foods

A number of large investors have recently made changes to their positions in NOMD. Royal Bank of Canada lifted its stake in Nomad Foods by 9.2% in the first quarter. Royal Bank of Canada now owns 143,968 shares of the company’s stock worth $2,829,000 after acquiring an additional 12,131 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Nomad Foods by 81.3% in the 1st quarter. Millennium Management LLC now owns 656,686 shares of the company’s stock valued at $12,904,000 after purchasing an additional 294,386 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Nomad Foods by 50.2% during the 1st 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 during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Nomad Foods by 11.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 467,895 shares of the company’s stock worth $7,950,000 after purchasing an additional 47,368 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its stake in shares of Nomad Foods by 3.5% during the second quarter. Vontobel Holding Ltd. now owns 20,417 shares of the company’s stock worth $347,000 after purchasing an additional 688 shares in the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Nomad Foods Stock Down 0.8%

NOMD stock opened at $12.60 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.59 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average of $12.24 and a two-hundred day moving average of $13.34. Nomad Foods has a 12 month low of $11.04 and a 12 month high of $20.81. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 8.75 and a beta of 0.72.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). Nomad Foods had a net margin of 6.56% and a return on equity of 9.73%. The company had revenue of $881.94 million during the quarter, compared to analysts’ expectations of $760.75 million. During the same quarter last year, the company earned $0.55 earnings per share. Nomad Foods’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, analysts forecast that Nomad Foods will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $0.68 dividend on an annualized basis and a yield of 5.4%. Nomad Foods’s dividend payout ratio (DPR) is currently 47.22%.

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.