Mizuho Cuts Nomad Foods (NYSE:NOMD) Price Target to $24.00

Nomad Foods (NYSE:NOMD) had its target price lowered by Mizuho from $28.00 to $24.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

NOMD has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, November 4th. StockNews.com raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 18th.

Nomad Foods Price Performance

Shares of NYSE NOMD opened at $16.82 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. Nomad Foods has a twelve month low of $15.99 and a twelve month high of $20.05. The business has a 50 day simple moving average of $17.47 and a 200-day simple moving average of $17.86. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 12.65 and a beta of 0.78.

Nomad Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 8th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Friday, November 8th. Nomad Foods’s payout ratio is 45.11%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its position in Nomad Foods by 8.3% in the 2nd quarter. Renaissance Technologies LLC now owns 4,179,679 shares of the company’s stock valued at $68,881,000 after acquiring an additional 320,900 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in Nomad Foods by 25.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,418,497 shares of the company’s stock worth $27,036,000 after buying an additional 289,090 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its position in Nomad Foods by 47.4% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 472,133 shares of the company’s stock valued at $7,781,000 after buying an additional 151,810 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Nomad Foods in the 2nd quarter valued at $2,412,000. Finally, Systematic Financial Management LP raised its position in shares of Nomad Foods by 11.5% during the third quarter. Systematic Financial Management LP now owns 1,267,098 shares of the company’s stock worth $24,151,000 after acquiring an additional 130,792 shares during the last quarter. 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.