Nomad Foods (NYSE:NOMD) Price Target Cut to $20.00 by Analysts at Mizuho

Nomad Foods (NYSE:NOMD) had its target price lowered by Mizuho from $23.00 to $20.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on NOMD. Wall Street Zen cut Nomad Foods from a “buy” rating to a “hold” rating in a report on Friday, May 9th. Barclays decreased their price objective on Nomad Foods from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, August 8th.

Nomad Foods Price Performance

Shares of NYSE:NOMD opened at $15.24 on Tuesday. The business’s fifty day moving average price is $17.12 and its two-hundred day moving average price is $18.24. The stock has a market cap of $2.34 billion, a PE ratio of 10.44 and a beta of 0.72. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.63 and a current ratio of 1.02. Nomad Foods has a one year low of $14.87 and a one year high of $20.81.

Nomad Foods (NYSE:NOMD) last announced its earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $879.27 million for the quarter, compared to analysts’ expectations of $762.81 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%. Nomad Foods’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, analysts forecast that Nomad Foods will post 1.82 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, August 11th. This represents a $0.68 annualized dividend and a dividend yield of 4.5%. Nomad Foods’s dividend payout ratio (DPR) is 46.58%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boston Partners boosted its holdings in 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 acquiring an additional 4,114,150 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Nomad Foods by 0.8% in the first quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company’s stock valued at $165,890,000 after acquiring an additional 66,060 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Nomad Foods by 3.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,824,222 shares of the company’s stock valued at $134,096,000 after acquiring an additional 254,314 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Nomad Foods by 2.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,176,211 shares of the company’s stock valued at $70,077,000 after acquiring an additional 86,897 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Nomad Foods by 17.3% in the first quarter. Victory Capital Management Inc. now owns 2,724,866 shares of the company’s stock valued at $53,544,000 after acquiring an additional 402,599 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

About Nomad Foods

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.