Nomad Foods (NYSE:NOMD) Trading 5.4% Higher on Insider Buying Activity

Shares of Nomad Foods Limited (NYSE:NOMD) shot up 5.4% during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $12.49 and last traded at $12.4420. Approximately 599,853 shares traded hands during trading, a decline of 64% from the average daily volume of 1,649,508 shares. The stock had previously closed at $11.81.

Specifically, CFO Ruben Baldew purchased 28,290 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average price of $11.85 per share, for a total transaction of $335,236.50. Following the completion of the purchase, the chief financial officer directly owned 367,172 shares of the company’s stock, valued at $4,350,988.20. The trade was a 8.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $11.00 target price on shares of Nomad Foods in a research note on Tuesday, July 21st. Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. BTIG Research restated a “buy” rating and issued a $15.00 price target on shares of Nomad Foods in a research note on Friday, August 14th. Finally, Weiss Ratings upgraded Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 2nd. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.25.

Nomad Foods Trading Up 5.4%

The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $1.74 billion, a PE ratio of 12.20 and a beta of 0.69. The business’s 50-day moving average is $11.41 and its two-hundred day moving average is $10.79.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. Nomad Foods had a return on equity of 8.88% and a net margin of 4.20%.The company had revenue of $825.94 million for the quarter, compared to analyst estimates of $825.02 million. During the same quarter last year, the company posted $0.40 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. On average, analysts anticipate that Nomad Foods Limited will post 1.69 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.68 annualized dividend and a yield of 5.5%. Nomad Foods’s payout ratio is 66.67%.

Institutional Investors Weigh In On Nomad Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its position in shares of Nomad Foods by 3,231.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company’s stock worth $29,000 after acquiring an additional 2,262 shares during the last quarter. SBI Securities Co. Ltd. raised its position in Nomad Foods by 469.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company’s stock valued at $30,000 after purchasing an additional 1,996 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Nomad Foods in the 3rd quarter valued at $43,000. Osaic Holdings Inc. boosted its stake in Nomad Foods by 87.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after purchasing an additional 1,240 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Nomad Foods by 219.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,773 shares of the company’s stock worth $75,000 after purchasing an additional 5,341 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.

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.