Nomad Foods’ (NOMD) “Hold” Rating Reaffirmed at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reaffirmed their hold rating on shares of Nomad Foods (NYSE:NOMD) in a report published on Monday morning, MarketBeat.com reports. They currently have a $10.00 price objective on the stock, down from their previous price objective of $15.00.

NOMD has been the subject of a number of other research reports. Weiss Ratings downgraded shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. BTIG Research reduced 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 decreased their price objective on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Zacks Research downgraded shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Finally, Barclays cut their target price on shares of Nomad Foods from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.75.

Nomad Foods Price Performance

Shares of NYSE NOMD opened at $9.74 on Monday. 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 has a fifty-two week low of $9.43 and a fifty-two week high of $20.29. The business has a 50 day moving average price of $11.45 and a two-hundred day moving average price of $12.03. The firm has a market cap of $1.38 billion, a PE ratio of 9.54 and a beta of 0.74.

Nomad Foods Announces Dividend

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

Hedge Funds Weigh In On Nomad Foods

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its stake in Nomad Foods by 3,231.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company’s stock valued at $29,000 after purchasing an additional 2,262 shares during the last quarter. DGS Capital Management LLC lifted its position in shares of Nomad Foods by 17.8% in the 4th quarter. DGS Capital Management LLC now owns 14,839 shares of the company’s stock worth $186,000 after buying an additional 2,243 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of Nomad Foods in the 4th quarter valued at about $10,979,000. Invesco Ltd. boosted its holdings in shares of Nomad Foods by 13.6% in the 4th quarter. Invesco Ltd. now owns 276,560 shares of the company’s stock valued at $3,460,000 after buying an additional 33,068 shares during the period. Finally, Vident Advisory LLC grew its position in shares of Nomad Foods by 3.9% during the 4th quarter. Vident Advisory LLC now owns 712,135 shares of the company’s stock valued at $8,909,000 after buying an additional 26,495 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

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.