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

Nomad Foods Limited (NYSE:NOMD) has been given a consensus rating of “Hold” by the six research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $13.25.

NOMD has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $11.00 price target on shares of Nomad Foods in a research report on Tuesday, July 21st. Zacks Research cut Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Barclays lifted their target price on Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. BTIG Research reissued a “buy” rating and issued a $15.00 target price on shares of Nomad Foods in a report 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.

Nomad Foods Stock Up 2.2%

Shares of NYSE:NOMD opened at $12.15 on Friday. Nomad Foods has a 1-year low of $8.99 and a 1-year high of $15.60. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.10 and a quick ratio of 0.66. The stock has a market cap of $1.70 billion, a P/E ratio of 11.91 and a beta of 0.69. The firm has a fifty day moving average price of $11.52 and a 200 day moving average price of $10.78.

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

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Tuesday, August 11th. Nomad Foods’s dividend payout ratio (DPR) is 66.67%.

Insiders Place Their Bets

In other news, CFO Ruben Baldew acquired 28,290 shares of the business’s stock in a transaction 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 transaction, the chief financial officer owned 367,172 shares in the company, valued at $4,350,988.20. This represents a 8.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Dominic Brisby bought 50,000 shares of Nomad Foods stock in a transaction on Monday, August 24th. The stock was acquired at an average cost of $12.38 per share, with a total value of $619,000.00. Following the acquisition, the chief executive officer owned 726,794 shares of the company’s stock, valued at $8,997,709.72. This trade represents a 7.39% increase in their position. The SEC filing for this purchase provides additional information. 17.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nomad Foods

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its position in Nomad Foods by 9.2% during the first quarter. Royal Bank of Canada now owns 143,968 shares of the company’s stock worth $2,829,000 after acquiring an additional 12,131 shares during the last quarter. Millennium Management LLC raised its holdings in Nomad Foods by 81.3% in the 1st quarter. Millennium Management LLC now owns 656,686 shares of the company’s stock valued at $12,904,000 after acquiring an additional 294,386 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Nomad Foods by 50.2% during the 1st quarter. Jane Street Group LLC now owns 75,847 shares of the company’s stock worth $1,490,000 after purchasing an additional 25,358 shares during the period. Cetera Investment Advisers purchased a new position in shares of Nomad Foods during the 2nd quarter worth $221,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Nomad Foods by 427.3% during the second quarter. JPMorgan Chase & Co. now owns 105,871 shares of the company’s stock worth $1,799,000 after purchasing an additional 85,793 shares during the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

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.