Nomad Foods (NYSE:NOMD) Upgraded by StockNews.com to Buy

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

Several other analysts have also recently weighed in on the stock. Barclays decreased their price objective on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Nomad Foods from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, August 8th.

Nomad Foods Price Performance

Shares of Nomad Foods stock opened at $17.57 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 14.64 and a beta of 0.78. Nomad Foods has a 1-year low of $13.59 and a 1-year high of $20.05. The firm’s 50-day moving average price is $18.58 and its two-hundred day moving average price is $18.11.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $810.64 million for the quarter, compared to analysts’ expectations of $822.21 million. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. On average, equities analysts predict that Nomad Foods will post 1.96 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Saturday, August 10th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.60 annualized dividend and a dividend yield of 3.41%. Nomad Foods’s dividend payout ratio (DPR) is currently 50.00%.

Institutional Trading of Nomad Foods

Several hedge funds have recently modified their holdings of NOMD. Applied Fundamental Research LLC grew its stake in shares of Nomad Foods by 6.0% during the first quarter. Applied Fundamental Research LLC now owns 843,305 shares of the company’s stock valued at $16,495,000 after purchasing an additional 47,476 shares during the last quarter. Oak Ridge Investments LLC lifted its holdings in Nomad Foods by 8.0% in the first quarter. Oak Ridge Investments LLC now owns 305,432 shares of the company’s stock valued at $5,974,000 after buying an additional 22,730 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Nomad Foods by 21.1% in the first quarter. Janney Montgomery Scott LLC now owns 64,614 shares of the company’s stock valued at $1,264,000 after buying an additional 11,246 shares during the period. Capstone Investment Advisors LLC acquired a new position in Nomad Foods in the first quarter valued at approximately $1,398,000. Finally, Mutual of America Capital Management LLC acquired a new position in Nomad Foods in the first quarter valued at approximately $3,645,000. 75.26% of the stock is owned by institutional investors.

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.