Nomad Foods Limited (NYSE:NOMD) Receives Consensus Rating of “Hold” from Brokerages

Nomad Foods Limited (NYSE:NOMD) has earned an average recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $12.50.

A number of brokerages recently weighed in on NOMD. BTIG Research restated a “buy” rating and set a $15.00 price objective on shares of Nomad Foods in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Barclays cut their price objective 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. Finally, Mizuho cut their price objective on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd.

Insider Activity at Nomad Foods

In related news, Director Ian G. H. Ashken acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $9.13 per share, for a total transaction of $913,000.00. Following the completion of the purchase, the director directly owned 116,916 shares in the company, valued at $1,067,443.08. This trade represents a 591.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Dominic Brisby acquired 150,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $9.79 per share, for a total transaction of $1,468,500.00. Following the completion of the purchase, the chief executive officer owned 676,794 shares of the company’s stock, valued at approximately $6,625,813.26. This represents a 28.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 264,731 shares of company stock worth $2,524,538 over the last ninety days. 17.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nomad Foods

Hedge funds and other institutional investors have recently bought and sold shares of the business. Atlantic Investment Management Inc. bought a new stake in Nomad Foods in the third quarter worth about $9,494,000. American Assets Inc. bought a new stake in Nomad Foods in the third quarter worth about $526,000. Invenomic Capital Management LP raised its position in Nomad Foods by 144.2% in the third quarter. Invenomic Capital Management LP now owns 952,268 shares of the company’s stock worth $12,522,000 after acquiring an additional 562,304 shares in the last quarter. Doma Perpetual Capital Management LLC bought a new stake in Nomad Foods in the third quarter worth about $2,164,000. Finally, Sound Income Strategies LLC raised its position in Nomad Foods by 64.2% in the fourth quarter. Sound Income Strategies LLC now owns 334,277 shares of the company’s stock worth $3,894,000 after acquiring an additional 130,637 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

Nomad Foods Stock Performance

Shares of NOMD opened at $9.93 on Monday. Nomad Foods has a 1 year low of $8.99 and a 1 year high of $18.33. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 9.64 and a beta of 0.70. 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 firm has a fifty day moving average of $9.79 and a 200-day moving average of $11.15.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. Nomad Foods had a net margin of 4.43% and a return on equity of 9.05%. The company had revenue of $827.87 million during the quarter, compared to the consensus estimate of $804.00 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. As a group, equities analysts anticipate that Nomad Foods will post 1.76 earnings per share for the current year.

Nomad Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Tuesday, May 12th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Tuesday, May 12th. Nomad Foods’s payout ratio is currently 66.02%.

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.