Nomad Foods (NYSE:NOMD) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Nomad Foods (NYSE:NOMD) from a hold rating to a buy rating in a research note published on Saturday morning.

A number of other brokerages have also recently weighed in on NOMD. Deutsche Bank Aktiengesellschaft upped their price target on Nomad Foods from $23.00 to $24.00 and gave the company a buy rating in a research report on Thursday, August 8th. Barclays decreased their price objective on shares of Nomad Foods from $22.00 to $21.00 and set an overweight rating on the stock in a research note on Friday, July 19th. Finally, Mizuho lifted their target price on shares of Nomad Foods from $26.00 to $28.00 and gave the company a buy rating in a research note on Friday, May 10th.

Nomad Foods Stock Performance

NYSE:NOMD opened at $18.48 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.14 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $17.72 and a 200 day moving average price of $18.22. The firm has a market capitalization of $3.01 billion, a PE ratio of 15.40 and a beta of 0.79. Nomad Foods has a 12-month low of $13.56 and a 12-month high of $20.05.

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Saturday, August 10th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Friday, August 9th. Nomad Foods’s dividend payout ratio is currently 50.00%.

Institutional Trading of Nomad Foods

Large investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust bought a new stake in shares of Nomad Foods in the fourth quarter worth about $26,000. Blue Trust Inc. lifted its holdings in shares of Nomad Foods by 133.2% during the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock valued at $27,000 after purchasing an additional 934 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Nomad Foods in the 2nd quarter valued at approximately $42,000. National Bank of Canada FI increased its stake in Nomad Foods by 378.4% during the 2nd quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock worth $46,000 after purchasing an additional 2,195 shares in the last quarter. Finally, Quarry LP raised its holdings in Nomad Foods by 366.5% during the 2nd quarter. Quarry LP now owns 3,004 shares of the company’s stock worth $50,000 after buying an additional 2,360 shares during the period. Institutional investors own 75.26% of the company’s stock.

About Nomad Foods

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.