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 Monday morning.

Several other analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Nomad Foods from $23.00 to $24.00 and gave the stock a buy rating in a report on Thursday, August 8th. Barclays reduced their target price on Nomad Foods from $22.00 to $21.00 and set an overweight rating on the stock in a report on Friday, July 19th.

Nomad Foods Stock Performance

Shares of NYSE NOMD opened at $19.02 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.73. The stock’s fifty day moving average price is $18.20 and its two-hundred day moving average price is $18.30. Nomad Foods has a one year low of $13.56 and a one year high of $20.05. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 15.85 and a beta of 0.78.

Nomad Foods (NYSE:NOMD) last released its earnings results on Wednesday, August 7th. The company reported $0.47 earnings per share (EPS) 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 return on equity of 9.78% and a net margin of 6.79%. On average, equities analysts forecast that Nomad Foods will post 1.94 EPS for the current year.

Nomad Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Saturday, August 10th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, August 9th. Nomad Foods’s dividend payout ratio (DPR) is presently 50.00%.

Institutional Trading of Nomad Foods

Large investors have recently bought and sold shares of the business. Aristides Capital LLC bought a new position in Nomad Foods in the second quarter valued at about $231,000. Point72 Asset Management L.P. raised its position in Nomad Foods by 424.7% in the second quarter. Point72 Asset Management L.P. now owns 33,055 shares of the company’s stock valued at $545,000 after purchasing an additional 26,755 shares during the last quarter. Quarry LP raised its position in Nomad Foods by 366.5% in the second quarter. Quarry LP now owns 3,004 shares of the company’s stock valued at $50,000 after purchasing an additional 2,360 shares during the last quarter. Squarepoint Ops LLC bought a new position in Nomad Foods in the second quarter valued at about $703,000. Finally, Marshall Wace LLP bought a new position in Nomad Foods in the second quarter valued at about $313,000. 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.