StockNews.com Lowers Nomad Foods (NYSE:NOMD) to Hold

StockNews.com cut shares of Nomad Foods (NYSE:NOMD) from a buy rating to a hold rating in a report released on Tuesday.

A number of other equities analysts have also weighed in on NOMD. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Nomad Foods from $23.00 to $24.00 and gave the stock a buy rating in a report on Thursday, August 8th. Barclays decreased their price target on Nomad Foods from $22.00 to $21.00 and set an overweight rating for the company in a research note on Friday, July 19th.

Nomad Foods Trading Down 1.7 %

NYSE NOMD opened at $18.13 on Tuesday. Nomad Foods has a 12 month low of $13.56 and a 12 month high of $20.05. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.80. The stock’s fifty day moving average price is $18.82 and its 200-day moving average price is $18.29. The stock has a market cap of $2.95 billion, a P/E ratio of 15.11 and a beta of 0.78.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $810.64 million for the quarter, compared to the consensus estimate of $822.21 million. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. As a group, equities analysts forecast that Nomad Foods will post 1.96 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Saturday, August 10th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.60 annualized dividend and a dividend yield of 3.31%. Nomad Foods’s payout ratio is 50.00%.

Institutional Investors Weigh In On Nomad Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOMD. Mutual of America Capital Management LLC purchased a new position in shares of Nomad Foods in the 1st quarter worth $3,645,000. Swedbank AB purchased a new position in Nomad Foods in the first quarter worth about $10,425,000. Russell Investments Group Ltd. grew its stake in shares of Nomad Foods by 16.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,377,332 shares of the company’s stock valued at $26,941,000 after purchasing an additional 193,531 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Nomad Foods by 123.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 548,738 shares of the company’s stock valued at $9,043,000 after purchasing an additional 302,913 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in shares of Nomad Foods in the 1st quarter worth approximately $1,398,000. Hedge funds and other 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.