Brokerages Set Nomad Foods Limited (NYSE:NOMD) PT at $12.50

Nomad Foods Limited (NYSE:NOMD) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $12.50.

Several equities analysts have recently weighed in on the company. Barclays decreased their price objective on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a report on Monday, March 30th. Weiss Ratings cut Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Zacks Research cut Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, BTIG Research decreased their price objective on Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 2nd.

Nomad Foods Price Performance

Shares of NYSE NOMD opened at $9.71 on Friday. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 9.51 and a beta of 0.74. The business has a 50-day moving average of $10.55 and a 200-day moving average of $11.61. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 0.66. Nomad Foods has a fifty-two week low of $9.43 and a fifty-two week high of $20.29.

Nomad Foods Announces Dividend

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

Institutional Investors Weigh In On Nomad Foods

Hedge funds have recently bought and sold shares of the company. Tidal Investments LLC lifted its holdings in shares of Nomad Foods by 1.9% during the second quarter. Tidal Investments LLC now owns 38,037 shares of the company’s stock worth $646,000 after purchasing an additional 726 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Nomad Foods by 3.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 30,987 shares of the company’s stock worth $407,000 after purchasing an additional 939 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Nomad Foods by 0.4% during the second quarter. California Public Employees Retirement System now owns 268,627 shares of the company’s stock worth $4,564,000 after purchasing an additional 1,044 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Nomad Foods by 87.4% during the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after purchasing an additional 1,240 shares during the period. Finally, Legend Financial Advisors Inc. lifted its holdings in shares of Nomad Foods by 3.4% during the third quarter. Legend Financial Advisors Inc. now owns 41,689 shares of the company’s stock worth $548,000 after purchasing an additional 1,362 shares during the period. 75.26% of the stock is currently owned by institutional investors and hedge funds.

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.