Nomad Foods (NYSE:NOMD) Raised to Buy at StockNews.com

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

Several other equities research analysts have also weighed in on NOMD. Barclays cut their target price on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Nomad Foods from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, August 8th.

Nomad Foods Trading Up 0.1 %

Shares of NYSE NOMD opened at $17.57 on Friday. The company’s 50 day simple moving average is $18.58 and its 200 day simple moving average is $18.11. Nomad Foods has a fifty-two week low of $13.59 and a fifty-two week high of $20.05. The firm has a market capitalization of $2.86 billion, a P/E ratio of 14.64 and a beta of 0.78. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.73.

Nomad Foods (NYSE:NOMD) last posted its earnings results on Wednesday, August 7th. The company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $810.64 million for the quarter, compared to analyst estimates of $822.21 million. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. On average, analysts predict that Nomad Foods will post 1.96 EPS for the current year.

Nomad Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Saturday, August 10th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Friday, August 9th. Nomad Foods’s dividend payout ratio is 50.00%.

Institutional Investors Weigh In On Nomad Foods

Several large investors have recently made changes to their positions in the stock. Miller Howard Investments Inc. NY increased its position in shares of Nomad Foods by 2.2% during the second quarter. Miller Howard Investments Inc. NY now owns 27,451 shares of the company’s stock worth $452,000 after acquiring an additional 595 shares in the last quarter. Custom Index Systems LLC increased its position in shares of Nomad Foods by 4.7% during the third quarter. Custom Index Systems LLC now owns 18,845 shares of the company’s stock worth $359,000 after acquiring an additional 847 shares in the last quarter. Blue Trust Inc. increased its position in shares of Nomad Foods by 133.2% during the second quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock worth $27,000 after acquiring an additional 934 shares in the last quarter. Allegheny Financial Group LTD grew its position in Nomad Foods by 4.9% in the second quarter. Allegheny Financial Group LTD now owns 24,336 shares of the company’s stock valued at $401,000 after purchasing an additional 1,128 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Nomad Foods by 11.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,051 shares of the company’s stock valued at $281,000 after purchasing an additional 1,689 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Company Profile

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.