StockNews.com Lowers Nomad Foods (NYSE:NOMD) to Hold

by · The Markets Daily

StockNews.com downgraded shares of Nomad Foods (NYSE:NOMD – Free Report) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Several other analysts have also weighed in on NOMD. Barclays lowered 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Nomad Foods from $23.00 to $24.00 and gave the company a buy rating in a research note on Thursday, August 8th.

View Our Latest Report on Nomad Foods

Nomad Foods Stock Performance

Shares of NOMD opened at $18.22 on Tuesday. The company has a market capitalization of $2.97 billion, a PE ratio of 15.18 and a beta of 0.78. Nomad Foods has a 52-week low of $13.56 and a 52-week high of $20.05. The company has a 50-day simple moving average of $18.82 and a 200-day simple moving average of $18.28. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.80.

Nomad Foods (NYSE:NOMD – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The company had revenue of $810.64 million during the quarter, compared to the consensus estimate of $822.21 million. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. Equities research analysts predict that Nomad Foods will post 1.96 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Saturday, August 10th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.29%. The ex-dividend date was Friday, August 9th. Nomad Foods’s payout ratio is 50.00%.

Institutional Trading of Nomad Foods

Several institutional investors and hedge funds have recently made changes to their positions in NOMD. Blue Trust Inc. lifted its stake 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 valued at $27,000 after buying an additional 934 shares during the period. Headlands Technologies LLC purchased a new position in shares of Nomad Foods during the 2nd quarter worth $42,000. National Bank of Canada FI boosted its holdings in shares of Nomad Foods by 378.4% during the second quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock worth $46,000 after purchasing an additional 2,195 shares during the last quarter. Quarry LP grew its position in shares of 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 period. Finally, nVerses Capital LLC acquired a new position in Nomad Foods in the second quarter valued at $120,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Nomad Foods Company Profile

(Get Free Report)

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.

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