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

Nomad Foods Limited (NYSE:NOMD) has been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $13.6667.

Several research analysts have recently weighed in on the stock. 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, March 2nd. Mizuho cut their target price on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday. Barclays reduced their price target on Nomad Foods from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Weiss Ratings downgraded Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd.

Nomad Foods Stock Down 0.8%

NOMD traded down $0.09 during trading on Friday, reaching $10.24. 1,344,877 shares of the stock were exchanged, compared to its average volume of 1,844,506. 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 50 day moving average price is $12.16 and its two-hundred day moving average price is $12.65. Nomad Foods has a twelve month low of $10.04 and a twelve month high of $20.80. The stock has a market cap of $1.57 billion, a P/E ratio of 10.04 and a beta of 0.74.

Nomad Foods Announces Dividend

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

Hedge Funds Weigh In On Nomad Foods

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners raised its position in shares of Nomad Foods by 40.3% in the second quarter. Boston Partners now owns 14,323,433 shares of the company’s stock valued at $243,276,000 after purchasing an additional 4,114,150 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Nomad Foods by 0.4% during the 2nd quarter. Alliancebernstein L.P. now owns 7,330,537 shares of the company’s stock worth $124,546,000 after buying an additional 27,177 shares during the last quarter. Polaris Capital Management LLC boosted its holdings in shares of Nomad Foods by 138.8% during the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock worth $45,261,000 after buying an additional 2,000,400 shares during the period. Royce & Associates LP boosted its holdings in shares of Nomad Foods by 1.3% during the 4th quarter. Royce & Associates LP now owns 2,484,858 shares of the company’s stock worth $31,086,000 after buying an additional 33,052 shares during the period. Finally, Ruffer LLP acquired a new position in Nomad Foods in the 4th quarter valued at about $26,823,000. 75.26% of the stock is owned by institutional investors.

Nomad Foods Company Profile

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.