Nomad Foods (NYSE:NOMD) Sets New 52-Week Low – Here’s Why

Nomad Foods Limited (NYSE:NOMD) reached a new 52-week low during trading on Tuesday . The company traded as low as $9.17 and last traded at $9.1350, with a volume of 327681 shares traded. The stock had previously closed at $9.48.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays dropped their price target on shares of Nomad Foods from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a research note on Monday, March 30th. Weiss Ratings lowered Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Mizuho dropped their price target on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Finally, BTIG Research dropped their target price on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Nomad Foods currently has an average rating of “Hold” and a consensus target price of $12.50.

Nomad Foods Stock Down 1.8%

The company has a debt-to-equity ratio of 0.91, a current ratio of 1.06 and a quick ratio of 0.66. The stock’s fifty day simple moving average is $9.83 and its 200-day simple moving average is $11.39. The stock has a market cap of $1.32 billion, a P/E ratio of 9.03 and a beta of 0.69.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. The business had revenue of $827.87 million for the quarter, compared to analysts’ expectations of $804.00 million. Nomad Foods had a return on equity of 9.05% and a net margin of 4.43%.The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. On average, research analysts anticipate that Nomad Foods Limited will post 1.81 earnings per share for the current year.

Nomad Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Tuesday, May 12th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date is Tuesday, May 12th. Nomad Foods’s dividend payout ratio (DPR) is presently 66.02%.

Institutional Trading of Nomad Foods

A number of large investors have recently modified their holdings of NOMD. Royal Bank of Canada lifted its position in Nomad Foods by 9.2% in the 1st quarter. Royal Bank of Canada now owns 143,968 shares of the company’s stock valued at $2,829,000 after purchasing an additional 12,131 shares during the last quarter. Millennium Management LLC increased its stake in shares of Nomad Foods by 81.3% in the first quarter. Millennium Management LLC now owns 656,686 shares of the company’s stock valued at $12,904,000 after purchasing an additional 294,386 shares during the period. Jane Street Group LLC raised its holdings in shares of Nomad Foods by 50.2% during the first quarter. Jane Street Group LLC now owns 75,847 shares of the company’s stock valued at $1,490,000 after buying an additional 25,358 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Nomad Foods during the second quarter valued at approximately $221,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Nomad Foods by 427.3% during the second quarter. JPMorgan Chase & Co. now owns 105,871 shares of the company’s stock worth $1,799,000 after buying an additional 85,793 shares during the period. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Company Profile

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.