Nomad Foods (NYSE:NOMD) Stock Price Expected to Rise, Barclays Analyst Says

Nomad Foods (NYSE:NOMD) had its price objective raised by Barclays from $19.00 to $23.00 in a report published on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

NOMD has been the topic of a number of other reports. Mizuho reduced their price objective on shares of Nomad Foods from $28.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. StockNews.com raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, November 4th.

Nomad Foods Price Performance

Shares of NOMD stock opened at $20.61 on Monday. Nomad Foods has a 52-week low of $15.43 and a 52-week high of $20.81. The stock has a market cap of $3.36 billion, a PE ratio of 15.49 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.20. The firm’s 50 day moving average price is $17.52 and its two-hundred day moving average price is $17.84.

Nomad Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.30%. This is a positive change from Nomad Foods’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 10th. Nomad Foods’s dividend payout ratio (DPR) is presently 45.03%.

Institutional Investors Weigh In On Nomad Foods

A number of hedge funds and other institutional investors have recently made changes to their positions in NOMD. Nomura Asset Management Co. Ltd. raised its holdings in shares of Nomad Foods by 61.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock worth $40,000 after acquiring an additional 800 shares during the period. Blue Trust Inc. increased its stake in Nomad Foods by 70.6% in the 4th quarter. Blue Trust Inc. now owns 3,500 shares of the company’s stock valued at $59,000 after buying an additional 1,448 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Nomad Foods in the 4th quarter valued at $62,000. Parkside Financial Bank & Trust increased its stake in Nomad Foods by 21.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,757 shares of the company’s stock valued at $63,000 after buying an additional 670 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in Nomad Foods by 25.8% in the 3rd quarter. Avior Wealth Management LLC now owns 3,920 shares of the company’s stock valued at $75,000 after buying an additional 804 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Company Profile

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.