Nomad Foods (NYSE:NOMD) Downgraded by StockNews.com

by · The Cerbat Gem

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

Other analysts have also recently issued research reports about the company. Barclays cut their target price on Nomad Foods from $22.00 to $21.00 and set an overweight rating for the company in a research 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 report on Thursday, August 8th.

View Our Latest Analysis on NOMD

Nomad Foods Price Performance

Shares of NYSE:NOMD opened at $18.13 on Tuesday. The company has a market capitalization of $2.95 billion, a P/E ratio of 15.11 and a beta of 0.78. Nomad Foods has a 1-year low of $13.56 and a 1-year high of $20.05. The firm’s 50 day simple moving average is $18.82 and its two-hundred day simple moving average is $18.29. 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 – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. The company had revenue of $810.64 million for the quarter, compared to analysts’ expectations of $822.21 million. Research analysts expect that Nomad Foods will post 1.96 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Saturday, August 10th were given a $0.15 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.31%. Nomad Foods’s dividend payout ratio is currently 50.00%.

Institutional Trading of Nomad Foods

Large investors have recently added to or reduced their stakes in the company. Boston Partners grew its holdings in shares of Nomad Foods by 18.8% in the first quarter. Boston Partners now owns 8,563,043 shares of the company’s stock valued at $167,241,000 after purchasing an additional 1,356,159 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Nomad Foods by 628.5% in the 1st quarter. Vanguard Group Inc. now owns 889,467 shares of the company’s stock worth $17,398,000 after buying an additional 767,366 shares in the last quarter. Pale Fire Capital SE increased its holdings in shares of Nomad Foods by 2,544.3% in the 4th quarter. Pale Fire Capital SE now owns 654,836 shares of the company’s stock worth $11,099,000 after buying an additional 630,072 shares during the last quarter. Swedbank AB purchased a new stake in shares of Nomad Foods during the 1st quarter valued at about $10,425,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of 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 during the last quarter. Institutional investors own 75.26% of the company’s stock.

About Nomad Foods

(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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