Nomad Foods Limited (NYSE:NOMD) Receives Average Recommendation of “Moderate Buy” from Analysts

Nomad Foods Limited (NYSE:NOMD) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.25.

A number of brokerages recently issued reports on NOMD. BTIG Research reiterated a “buy” rating and issued a $15.00 price target on shares of Nomad Foods in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $11.00 price objective on shares of Nomad Foods in a research report on Tuesday, July 21st. Barclays boosted their target price on shares of Nomad Foods from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Finally, Zacks Research raised Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th.

Insider Transactions at Nomad Foods

In other Nomad Foods news, CEO Dominic Brisby purchased 150,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $9.79 per share, with a total value of $1,468,500.00. Following the completion of the acquisition, the chief executive officer directly owned 676,794 shares of the company’s stock, valued at $6,625,813.26. This trade represents a 28.47% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ruben Baldew purchased 14,731 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $9.71 per share, with a total value of $143,038.01. Following the completion of the acquisition, the chief financial officer directly owned 338,882 shares of the company’s stock, valued at $3,290,544.22. This represents a 4.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 264,731 shares of company stock valued at $2,524,538. Corporate insiders own 17.27% of the company’s stock.

Institutional Trading of Nomad Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in shares of 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 buying an additional 12,131 shares in the last quarter. Millennium Management LLC raised its stake in Nomad Foods by 81.3% during the 1st quarter. Millennium Management LLC now owns 656,686 shares of the company’s stock worth $12,904,000 after acquiring an additional 294,386 shares in the last quarter. Jane Street Group LLC raised its stake in Nomad Foods by 50.2% during the 1st quarter. Jane Street Group LLC now owns 75,847 shares of the company’s stock worth $1,490,000 after acquiring an additional 25,358 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Nomad Foods in the second quarter valued at $221,000. Finally, JPMorgan Chase & Co. lifted its position in Nomad Foods by 427.3% in the second quarter. JPMorgan Chase & Co. now owns 105,871 shares of the company’s stock valued at $1,799,000 after acquiring an additional 85,793 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Stock Performance

Shares of NOMD opened at $11.93 on Tuesday. The stock has a 50-day simple moving average of $10.77 and a 200-day simple moving average of $10.82. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.66 and a current ratio of 1.06. The stock has a market capitalization of $1.67 billion, a PE ratio of 11.58 and a beta of 0.69. Nomad Foods has a 1 year low of $8.99 and a 1 year high of $17.85.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Nomad Foods had a return on equity of 9.05% and a net margin of 4.43%.The business had revenue of $827.87 million during the quarter, compared to the consensus estimate of $804.00 million. During the same period in the previous year, the company posted $0.21 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. On average, analysts predict that Nomad Foods will post 1.75 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Tuesday, May 12th were issued a $0.17 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.7%. Nomad Foods’s dividend payout ratio is presently 66.02%.

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.