Nomad Foods’ (NOMD) “Buy” Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Nomad Foods (NYSE:NOMD) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $15.00 price objective on the stock.

NOMD has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $12.00 price target on shares of Nomad Foods in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a report on Tuesday, September 29th. Zacks Research lowered shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Finally, Barclays increased 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. 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. Based on data from MarketBeat.com, Nomad Foods presently has an average rating of “Hold” and a consensus target price of $13.50.

Nomad Foods Stock Performance

Shares of NOMD opened at $11.07 on Thursday. The company has a market cap of $1.55 billion, a PE ratio of 10.86 and a beta of 0.75. The company has a current ratio of 1.10, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average price of $11.31 and a 200-day moving average price of $10.70. Nomad Foods has a 12-month low of $8.99 and a 12-month high of $13.08.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. The company had revenue of $825.94 million during the quarter, compared to analyst estimates of $825.02 million. Nomad Foods had a return on equity of 8.88% and a net margin of 4.20%. Nomad Foods’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. As a group, equities analysts forecast that Nomad Foods will post 1.62 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were issued a $0.17 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $0.68 annualized dividend and a dividend yield of 6.1%. Nomad Foods’s dividend payout ratio (DPR) is currently 66.67%.

Insider Buying and Selling at Nomad Foods

In other news, CEO Dominic Brisby purchased 50,000 shares of the company’s stock in a transaction on Monday, August 24th. The stock was acquired at an average price of $12.38 per share, with a total value of $619,000.00. Following the transaction, the chief executive officer directly owned 726,794 shares of the company’s stock, valued at approximately $8,997,709.72. This represents a 7.39% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ruben Baldew purchased 28,290 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average cost of $11.85 per share, with a total value of $335,236.50. Following the transaction, the chief financial officer directly owned 367,172 shares in the company, valued at $4,350,988.20. This trade represents a 8.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 17.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Nomad Foods

Hedge funds have recently modified their holdings of the company. Entropy Technologies LP grew its stake in Nomad Foods by 1.7% in the first quarter. Entropy Technologies LP now owns 71,479 shares of the company’s stock worth $687,000 after purchasing an additional 1,188 shares in the last quarter. Farther Finance Advisors LLC raised its position in Nomad Foods by 4.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 39,318 shares of the company’s stock valued at $406,000 after purchasing an additional 1,649 shares in the last quarter. DGS Capital Management LLC raised its position in Nomad Foods by 17.8% during the 4th quarter. DGS Capital Management LLC now owns 14,839 shares of the company’s stock valued at $186,000 after purchasing an additional 2,243 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Nomad Foods by 3,231.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company’s stock worth $29,000 after buying an additional 2,262 shares in the last quarter. Finally, R Squared Ltd grew its position in shares of Nomad Foods by 7.4% during the 1st quarter. R Squared Ltd now owns 33,400 shares of the company’s stock worth $321,000 after buying an additional 2,296 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

About Nomad Foods

Nomad Foods Ltd. is a European food company focused on frozen foods. Its portfolio includes frozen fish, vegetables, poultry, potato products, meals, and desserts sold through grocery retailers and other food channels.

The company markets products under several established brands, including Birds Eye in the United Kingdom and Ireland, iglo in Germany and other European markets, Findus in parts of continental Europe, Aunt Bessie’s in the United Kingdom, and Goodfella’s frozen pizza in selected markets.