Nomad Foods (NYSE:NOMD) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Nomad Foods (NYSE:NOMD) from a buy rating to a strong-buy rating in a report released on Friday.

Other equities research analysts have also issued research reports about the company. Barclays lifted their price objective on Nomad Foods from $19.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. Mizuho increased their price objective on Nomad Foods from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th.

Nomad Foods Stock Up 1.1 %

NOMD stock opened at $19.10 on Friday. The stock has a market capitalization of $2.93 billion, a PE ratio of 14.36 and a beta of 0.83. The company has a fifty day moving average of $19.10 and a 200-day moving average of $17.96. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.20. Nomad Foods has a one year low of $15.43 and a one year high of $20.81.

Nomad Foods Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.56%. This is an increase from Nomad Foods’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 10th. Nomad Foods’s payout ratio is presently 45.03%.

Institutional Investors Weigh In On Nomad Foods

Large investors have recently added to or reduced their stakes in the business. Congress Asset Management Co. purchased a new stake in Nomad Foods in the 1st quarter valued at approximately $7,383,000. GAMMA Investing LLC lifted its position in shares of Nomad Foods by 2,002.9% in the first quarter. GAMMA Investing LLC now owns 14,973 shares of the company’s stock valued at $294,000 after acquiring an additional 14,261 shares in the last quarter. Formidable Asset Management LLC acquired a new stake in shares of Nomad Foods during the fourth quarter valued at $700,000. Public Employees Retirement System of Ohio purchased a new stake in Nomad Foods during the 4th quarter worth about $763,000. Finally, PharVision Advisers LLC acquired a new position in Nomad Foods in the 4th quarter valued at about $614,000. 75.26% of the stock is owned by institutional investors and hedge funds.

About Nomad Foods

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.