Nomad Foods (NYSE:NOMD) Trading 5.4% Higher on Insider Buying Activity

Nomad Foods Limited (NYSE:NOMD) shares were up 5.4% during mid-day trading on Monday after an insider bought additional shares in the company. The stock traded as high as $12.49 and last traded at $12.4420. 599,853 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 1,649,508 shares. The stock had previously closed at $11.81.

Specifically, CFO Ruben Baldew bought 28,290 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average price of $11.85 per share, for a total transaction of $335,236.50. Following the completion of the purchase, the chief financial officer owned 367,172 shares of the company’s stock, valued at approximately $4,350,988.20. This represents a 8.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $11.00 price objective on shares of Nomad Foods in a research note on Tuesday, July 21st. Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Barclays upped their price target on Nomad Foods from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Weiss Ratings raised Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 2nd. Finally, BTIG Research reiterated a “buy” rating and issued a $15.00 price objective on shares of Nomad Foods in a research report on Friday, August 14th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Nomad Foods has a consensus rating of “Hold” and an average target price of $13.25.

Nomad Foods Price Performance

The company has a market cap of $1.74 billion, a price-to-earnings ratio of 12.20 and a beta of 0.69. The company has a 50-day simple moving average of $11.41 and a 200-day simple moving average of $10.79. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.10.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. Nomad Foods had a return on equity of 8.88% and a net margin of 4.20%.The firm had revenue of $825.94 million for the quarter, compared to the consensus estimate of $825.02 million. During the same period in the previous year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. As a group, research analysts predict that Nomad Foods Limited will post 1.69 earnings per share for the current year.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Tuesday, August 11th. Nomad Foods’s dividend payout ratio (DPR) is currently 66.67%.

Institutional Investors Weigh In On Nomad Foods

Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in Nomad Foods during the second quarter worth $411,000. Ancora Advisors LLC purchased a new position in Nomad Foods in the 2nd quarter valued at about $6,465,000. Assenagon Asset Management S.A. purchased a new position in shares of Nomad Foods during the second quarter valued at approximately $3,175,000. Alpine Woods Capital Investors LLC acquired a new stake in Nomad Foods during the first quarter worth approximately $150,000. Finally, Flax Pond Capital LLC purchased a new stake in Nomad Foods in the 1st quarter worth approximately $772,000. 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.