Nomad Foods Limited (NYSE:NOMD) Stock Rated “Hold” by Wall Street Analysts

Nomad Foods Limited (NYSE:NOMD) has been given an average recommendation of “Hold” by the seven brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $13.80.

A number of research analysts have weighed in on NOMD shares. Zacks Research downgraded Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Barclays raised their target price on Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Nomad Foods in a research report on Tuesday, September 29th. BTIG Research reaffirmed a “buy” rating and issued a $15.00 price target on shares of Nomad Foods in a research note on Thursday, November 5th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $15.00 price objective on shares of Nomad Foods in a report on Wednesday, November 4th.

Insider Transactions at Nomad Foods

In other Nomad Foods news, CEO Dominic Brisby acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average price of $12.38 per share, with a total value of $619,000.00. Following the completion of the purchase, the chief executive officer directly owned 726,794 shares of the company’s stock, valued at approximately $8,997,709.72. The trade was a 7.39% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ruben Baldew bought 28,290 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were acquired at an average cost of $11.85 per share, with a total value of $335,236.50. Following the purchase, the chief financial officer directly owned 367,172 shares of the company’s stock, valued at approximately $4,350,988.20. This represents a 8.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 17.27% of the company’s stock.

Institutional Trading of Nomad Foods

Hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in Nomad Foods by 219.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,773 shares of the company’s stock valued at $75,000 after buying an additional 5,341 shares in the last quarter. Cetera Investment Advisers purchased a new position in Nomad Foods during the first quarter valued at $97,000. Alpine Woods Capital Investors LLC purchased a new position in Nomad Foods during the first quarter valued at $150,000. R Squared Ltd boosted its holdings in Nomad Foods by 12.1% in the third quarter. R Squared Ltd now owns 29,059 shares of the company’s stock worth $300,000 after acquiring an additional 3,130 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Nomad Foods in the second quarter worth $411,000. 75.26% of the stock is owned by institutional investors.

Nomad Foods Stock Performance

Shares of NYSE:NOMD opened at $11.65 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average price of $11.34 and a 200-day moving average price of $11.02. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 10.59 and a beta of 0.74. Nomad Foods has a 12 month low of $8.99 and a 12 month high of $13.08.

Nomad Foods (NYSE:NOMD) last posted its earnings results on Thursday, August 13th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. Nomad Foods had a return on equity of 8.63% and a net margin of 4.46%. The company had revenue of $825.94 million for the quarter, compared to analysts’ expectations of $825.02 million. During the same period last year, the firm earned $0.40 earnings per share. Nomad Foods’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities analysts anticipate that Nomad Foods will post 1.62 EPS for the current year.

Nomad Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Tuesday, November 10th. Nomad Foods’s payout ratio is 61.82%.

Nomad Foods Company Profile

Nomad Foods Limited is a frozen-food company focused on European markets. It sells products including frozen fish, vegetables, meals, and poultry under brands such as Birds Eye, iglo, Findus, and Aunt Bessie’s. The company was formed in 2014 and expanded through acquisitions, including the purchase of the Iglo Group in 2015. Its products are sold across multiple European countries through grocery retailers and other food channels.