Nomad Foods (NYSE:NOMD) Price Target Raised to $23.00

Nomad Foods (NYSE:NOMD) had its target price boosted by Barclays from $19.00 to $23.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also issued reports on NOMD. StockNews.com raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Mizuho dropped their price objective on shares of Nomad Foods from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th.

Nomad Foods Stock Performance

NYSE:NOMD opened at $20.61 on Monday. Nomad Foods has a 12-month low of $15.43 and a 12-month high of $20.81. The company has a quick ratio of 0.72, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $3.36 billion, a PE ratio of 15.49 and a beta of 0.77. The firm has a 50-day moving average price of $17.52 and a 200 day moving average price of $17.84.

Nomad Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were issued a dividend of $0.17 per share. This is a positive change from Nomad Foods’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 10th. This represents a $0.68 annualized dividend and a dividend yield of 3.30%. Nomad Foods’s dividend payout ratio (DPR) is presently 45.03%.

Institutional Trading of Nomad Foods

Hedge funds have recently modified their holdings of the company. Townsend & Associates Inc increased its holdings in shares of Nomad Foods by 3.6% during the third quarter. Townsend & Associates Inc now owns 1,539,731 shares of the company’s stock worth $26,976,000 after buying an additional 53,694 shares in the last quarter. Systematic Financial Management LP increased its holdings in shares of Nomad Foods by 11.5% in the third quarter. Systematic Financial Management LP now owns 1,267,098 shares of the company’s stock valued at $24,151,000 after purchasing an additional 130,792 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Nomad Foods in the fourth quarter valued at approximately $317,000. HighTower Advisors LLC acquired a new stake in shares of Nomad Foods in the third quarter valued at approximately $218,000. Finally, Loomis Sayles & Co. L P increased its holdings in shares of Nomad Foods by 25.6% in the third quarter. Loomis Sayles & Co. L P now owns 1,418,497 shares of the company’s stock valued at $27,036,000 after purchasing an additional 289,090 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.