Nomad Foods (NYSE:NOMD) Price Target Lowered to $13.00 at Mizuho

Nomad Foods (NYSE:NOMD) had its price objective reduced by equities research analysts at Mizuho from $15.00 to $13.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 21.50% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on NOMD. Zacks Research upgraded Nomad Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. BTIG Research decreased their price target on Nomad Foods from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday. Barclays dropped their price objective on shares of Nomad Foods from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Nomad Foods in a research note on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nomad Foods currently has an average rating of “Moderate Buy” and an average price target of $13.67.

Nomad Foods Stock Down 2.5%

Shares of NYSE NOMD opened at $10.70 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.59 and a debt-to-equity ratio of 0.81. Nomad Foods has a 12-month low of $10.66 and a 12-month high of $20.81. The firm’s 50-day moving average price is $12.33 and its 200-day moving average price is $12.75. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 10.49 and a beta of 0.74.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Boston Partners increased its stake in Nomad Foods by 40.3% in the 2nd quarter. Boston Partners now owns 14,323,433 shares of the company’s stock worth $243,276,000 after buying an additional 4,114,150 shares during the period. Alliancebernstein L.P. increased its position in shares of Nomad Foods by 0.4% during the second quarter. Alliancebernstein L.P. now owns 7,330,537 shares of the company’s stock worth $124,546,000 after acquiring an additional 27,177 shares during the period. Polaris Capital Management LLC increased its position in shares of Nomad Foods by 138.8% during the third quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock worth $45,261,000 after acquiring an additional 2,000,400 shares during the period. Royce & Associates LP raised its stake in shares of Nomad Foods by 1.3% during the fourth quarter. Royce & Associates LP now owns 2,484,858 shares of the company’s stock valued at $31,086,000 after acquiring an additional 33,052 shares in the last quarter. Finally, Ruffer LLP purchased a new stake in shares of Nomad Foods in the fourth quarter valued at approximately $26,823,000. 75.26% of the stock is currently owned by institutional investors.

About Nomad Foods

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.