Nomad Foods (NYSE:NOMD) Stock Rating Lowered by Zacks Research

Zacks Research downgraded shares of Nomad Foods (NYSE:NOMD) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities research analysts also recently issued reports on NOMD. Mizuho lowered their price target on Nomad Foods from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Barclays dropped their price objective on shares of Nomad Foods from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Finally, BTIG Research lowered their price target on shares of Nomad Foods from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nomad Foods presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.75.

Nomad Foods Trading Up 1.4%

NYSE NOMD opened at $13.15 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.63 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $2.02 billion, a PE ratio of 9.01 and a beta of 0.70. Nomad Foods has a 1-year low of $12.89 and a 1-year high of $20.81. The firm’s fifty day simple moving average is $15.15 and its 200-day simple moving average is $17.23.

Nomad Foods (NYSE:NOMD) last posted its earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $879.27 million for the quarter, compared to the consensus estimate of $762.81 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. As a group, sell-side analysts anticipate that Nomad Foods will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, August 11th. This represents a $0.68 annualized dividend and a dividend yield of 5.2%. Nomad Foods’s payout ratio is currently 46.58%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Boston Partners lifted its stake in Nomad Foods by 40.3% in the 2nd quarter. Boston Partners now owns 14,323,433 shares of the company’s stock valued at $243,276,000 after purchasing an additional 4,114,150 shares during the last quarter. Norges Bank bought a new position in Nomad Foods in the 2nd quarter valued at approximately $15,603,000. Qube Research & Technologies Ltd lifted its stake in Nomad Foods by 164.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,195,533 shares of the company’s stock valued at $20,312,000 after purchasing an additional 742,813 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Nomad Foods by 46.2% in the 1st quarter. Ameriprise Financial Inc. now owns 1,851,199 shares of the company’s stock valued at $36,376,000 after purchasing an additional 585,054 shares during the last quarter. Finally, Hennessy Advisors Inc. bought a new position in Nomad Foods in the 2nd quarter valued at approximately $8,617,000. Institutional investors and hedge funds 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.