Nomad Foods (NYSE:NOMD) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Nomad Foods (NYSE:NOMD) from a hold rating to a buy rating in a research report report published on Monday morning.

A number of other brokerages have also recently issued reports on NOMD. Deutsche Bank Aktiengesellschaft upped their price objective on Nomad Foods from $23.00 to $24.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Barclays dropped their price objective on Nomad Foods from $22.00 to $21.00 and set an overweight rating on the stock in a research note on Friday, July 19th.

Nomad Foods Trading Down 0.2 %

NYSE NOMD opened at $19.02 on Monday. Nomad Foods has a 52 week low of $13.56 and a 52 week high of $20.05. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 15.85 and a beta of 0.78. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.73 and a current ratio of 1.17. The stock’s 50 day moving average price is $18.20 and its two-hundred day moving average price is $18.30.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Nomad Foods had a return on equity of 9.78% and a net margin of 6.79%. The company had revenue of $810.64 million for the quarter, compared to analysts’ expectations of $822.21 million. As a group, analysts anticipate that Nomad Foods will post 1.94 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Saturday, August 10th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Friday, August 9th. Nomad Foods’s dividend payout ratio (DPR) is presently 50.00%.

Institutional Investors Weigh In On Nomad Foods

A number of large investors have recently added to or reduced their stakes in the business. Boston Partners raised its stake in Nomad Foods by 18.8% in the 1st quarter. Boston Partners now owns 8,563,043 shares of the company’s stock valued at $167,241,000 after acquiring an additional 1,356,159 shares during the period. Renaissance Technologies LLC grew its holdings in Nomad Foods by 8.3% in the 2nd quarter. Renaissance Technologies LLC now owns 4,179,679 shares of the company’s stock valued at $68,881,000 after buying an additional 320,900 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Nomad Foods by 1.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,075,953 shares of the company’s stock valued at $69,087,000 after buying an additional 60,673 shares in the last quarter. Norges Bank acquired a new position in Nomad Foods in the 4th quarter valued at $25,286,000. Finally, Townsend & Associates Inc grew its holdings in Nomad Foods by 2.1% in the 1st quarter. Townsend & Associates Inc now owns 1,432,177 shares of the company’s stock valued at $26,853,000 after buying an additional 29,897 shares in the last quarter. Institutional investors 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.