Nomad Foods Limited (NYSE:NOMD) Receives $13.67 Consensus PT from Analysts

Shares of Nomad Foods Limited (NYSE:NOMD) have been assigned a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $13.6667.

A number of equities analysts have commented on the company. Barclays reduced their target price on Nomad Foods from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Zacks Research lowered shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. BTIG Research lowered their target price on Nomad Foods from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Mizuho lowered their price target on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Finally, Weiss Ratings cut shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd.

Nomad Foods Stock Up 0.6%

NOMD opened at $9.76 on Wednesday. The company has a market cap of $1.39 billion, a PE ratio of 9.56 and a beta of 0.74. Nomad Foods has a twelve month low of $9.46 and a twelve month high of $20.29. The company has a 50-day moving average price of $11.49 and a 200 day moving average price of $12.09. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.90.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.68 annualized dividend and a yield of 7.0%. Nomad Foods’s dividend payout ratio (DPR) is 66.67%.

Hedge Funds Weigh In On Nomad Foods

A number of hedge funds have recently modified their holdings of NOMD. Boston Partners boosted its position in shares of Nomad Foods by 40.3% during the 2nd quarter. Boston Partners now owns 14,323,433 shares of the company’s stock worth $243,276,000 after purchasing an additional 4,114,150 shares during the period. Ruffer LLP acquired a new stake in shares of Nomad Foods in the fourth quarter valued at $26,823,000. Polaris Capital Management LLC boosted its stake in shares of Nomad Foods by 138.8% in the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock valued at $45,261,000 after buying an additional 2,000,400 shares during the period. Norges Bank purchased a new position in Nomad Foods in the second quarter worth approximately $15,603,000. Finally, Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Nomad Foods during the 4th quarter worth $11,147,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

About Nomad Foods

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.