Mizuho Issues Pessimistic Forecast for Nomad Foods (NYSE:NOMD) Stock Price

Nomad Foods (NYSE:NOMD) had its target price decreased by Mizuho from $28.00 to $24.00 in a report released on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other research firms have also issued reports on NOMD. StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, November 4th.

Nomad Foods Stock Performance

Shares of Nomad Foods stock opened at $16.82 on Wednesday. Nomad Foods has a 52 week low of $15.99 and a 52 week high of $20.05. 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 stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 12.65 and a beta of 0.78. The firm has a fifty day moving average of $17.47 and a two-hundred day moving average of $17.86.

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 8th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Friday, November 8th. Nomad Foods’s dividend payout ratio (DPR) is presently 45.11%.

Hedge Funds Weigh In On Nomad Foods

A number of large investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in Nomad Foods by 8.3% during the second quarter. Renaissance Technologies LLC now owns 4,179,679 shares of the company’s stock valued at $68,881,000 after purchasing an additional 320,900 shares during the last quarter. River Road Asset Management LLC increased its holdings in Nomad Foods by 2.9% during the third quarter. River Road Asset Management LLC now owns 4,019,663 shares of the company’s stock worth $76,615,000 after buying an additional 114,750 shares during the last quarter. Victory Capital Management Inc. raised its position in Nomad Foods by 0.9% during the third quarter. Victory Capital Management Inc. now owns 2,069,181 shares of the company’s stock worth $39,439,000 after acquiring an additional 18,189 shares in the last quarter. Wellington Management Group LLP lifted its stake in Nomad Foods by 2.1% in the third quarter. Wellington Management Group LLP now owns 1,906,862 shares of the company’s stock valued at $36,345,000 after acquiring an additional 39,739 shares during the last quarter. Finally, Townsend & Associates Inc grew its position in shares of Nomad Foods by 3.6% in the 3rd quarter. Townsend & Associates Inc now owns 1,539,731 shares of the company’s stock valued at $26,976,000 after acquiring an additional 53,694 shares during the period. Institutional investors and hedge funds own 75.26% of the company’s stock.

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.