Nomad Foods (NYSE:NOMD) Price Target Lowered to $13.00 at Mizuho

Nomad Foods (NYSE:NOMD) had its price target decreased by Mizuho from $15.00 to $13.00 in a research report report published on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other research firms have also weighed in on NOMD. BTIG Research dropped their price objective on Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings restated a “hold (c-)” rating on shares of Nomad Foods in a research note on Wednesday, January 28th. Zacks Research raised shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Barclays lowered their target price on shares of Nomad Foods from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.67.

Nomad Foods Stock Performance

Shares of NYSE NOMD opened at $10.53 on Tuesday. The stock has a market cap of $1.61 billion, a PE ratio of 10.32 and a beta of 0.74. Nomad Foods has a 1 year low of $10.50 and a 1 year high of $20.81. The firm has a fifty day moving average price of $12.29 and a 200-day moving average price of $12.72. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.59.

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.68 dividend on an annualized basis and a yield of 6.5%. Nomad Foods’s payout ratio is presently 66.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NOMD. WealthCollab LLC increased its position in Nomad Foods by 242.0% in the fourth quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock worth $26,000 after purchasing an additional 1,452 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Nomad Foods by 3,231.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company’s stock valued at $29,000 after acquiring an additional 2,262 shares during the last quarter. SBI Securities Co. Ltd. raised its position in Nomad Foods by 469.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company’s stock valued at $30,000 after purchasing an additional 1,996 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Nomad Foods in the 3rd quarter worth approximately $43,000. Finally, Mondrian Investment Partners LTD bought a new position in shares of Nomad Foods during the 3rd quarter valued at approximately $44,000. 75.26% of the stock is owned by hedge funds and other 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.