Analysts Set Nomad Foods Limited (NYSE:NOMD) Price Target at $13.67

Nomad Foods Limited (NYSE:NOMD) has been assigned a consensus rating of “Hold” from the five research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $13.6667.

A number of research analysts have weighed in on the company. BTIG Research reduced their target price on Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Mizuho cut their price objective on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings cut shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Zacks Research lowered shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, Barclays lowered their target price on shares of Nomad Foods from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd.

Nomad Foods Stock Performance

Shares of NOMD opened at $9.76 on Wednesday. The stock’s 50-day simple moving average is $11.49 and its 200 day simple moving average is $12.06. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 9.56 and a beta of 0.74. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.07. Nomad Foods has a 52-week low of $9.46 and a 52-week high of $20.29.

Nomad Foods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.68 annualized dividend and a dividend yield of 7.0%. Nomad Foods’s dividend payout ratio is presently 66.67%.

Institutional Investors Weigh In On Nomad Foods

Large investors have recently added to or reduced their stakes in the business. 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 acquiring an additional 4,114,150 shares during the last quarter. Ruffer LLP bought a new stake in shares of Nomad Foods during the 4th quarter valued at about $26,823,000. Polaris Capital Management LLC grew its holdings 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 purchasing an additional 2,000,400 shares in the last quarter. Norges Bank purchased a new position in shares of Nomad Foods during the second quarter worth about $15,603,000. Finally, Lombard Odier Asset Management Europe Ltd bought a new position in shares of Nomad Foods in the fourth quarter worth approximately $11,147,000. Institutional investors own 75.26% of the company’s stock.

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.