Barclays Cuts Nomad Foods (NYSE:NOMD) Price Target to $13.00

Nomad Foods (NYSE:NOMD) had its target price reduced by Barclays from $15.00 to $13.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently commented on NOMD. Weiss Ratings restated a “hold (c-)” rating on shares of Nomad Foods in a research report on Wednesday, January 28th. Mizuho dropped their price target on shares of Nomad Foods from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, January 8th. BTIG Research lowered their price objective on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Zacks Research raised Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Nomad Foods presently has an average rating of “Hold” and an average target price of $13.67.

Nomad Foods Stock Performance

NOMD stock opened at $10.37 on Monday. Nomad Foods has a 1 year low of $10.27 and a 1 year high of $20.81. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 10.17 and a beta of 0.74. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.59 and a current ratio of 1.07. The stock’s fifty day moving average is $12.25 and its two-hundred day moving average is $12.70.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.68 dividend on an annualized basis and a yield of 6.6%. Nomad Foods’s payout ratio is presently 66.67%.

Institutional Investors Weigh In On Nomad Foods

A number of hedge funds and other institutional investors have recently made changes to their positions in NOMD. Polaris Capital Management LLC raised its stake in shares of Nomad Foods by 138.8% in the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock valued at $45,261,000 after purchasing an additional 2,000,400 shares during the period. Moody Aldrich Partners LLC grew its holdings in shares of Nomad Foods by 188.1% during the third quarter. Moody Aldrich Partners LLC now owns 247,558 shares of the company’s stock worth $3,255,000 after buying an additional 161,623 shares in the last quarter. Norges Bank acquired a new stake in Nomad Foods in the 2nd quarter valued at approximately $15,603,000. American Assets Inc. bought a new stake in Nomad Foods in the 3rd quarter valued at approximately $526,000. Finally, ABN AMRO Bank N.V. acquired a new position in Nomad Foods during the 2nd quarter worth approximately $6,056,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.

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.