Insider Buying: Nomad Foods (NYSE:NOMD) CEO Buys 150,000 Shares of Stock

Nomad Foods Limited (NYSE:NOMD) CEO Dominic Brisby purchased 150,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average price of $9.79 per share, for a total transaction of $1,468,500.00. Following the completion of the transaction, the chief executive officer directly owned 676,794 shares of the company’s stock, valued at $6,625,813.26. This represents a 28.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nomad Foods Stock Up 4.4%

Shares of NYSE NOMD traded up $0.43 during mid-day trading on Monday, hitting $10.23. 1,701,182 shares of the stock traded hands, compared to its average volume of 1,752,973. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.66 and a current ratio of 1.06. Nomad Foods Limited has a 52 week low of $8.99 and a 52 week high of $18.33. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 9.93 and a beta of 0.69. The stock has a fifty day moving average price of $9.73 and a 200-day moving average price of $11.32.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06. Nomad Foods had a return on equity of 9.05% and a net margin of 4.43%.The company had revenue of $827.87 million for the quarter, compared to analyst estimates of $804.00 million. During the same period in the previous year, the company posted $0.21 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. Research analysts anticipate that Nomad Foods Limited will post 1.76 EPS for the current year.

Nomad Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Tuesday, May 12th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, May 12th. This represents a $0.68 annualized dividend and a dividend yield of 6.6%. Nomad Foods’s payout ratio is currently 66.02%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NOMD shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $10.00 price target (down from $15.00) on shares of Nomad Foods in a research report on Monday, March 30th. Weiss Ratings raised Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Zacks Research raised Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Mizuho dropped their target price on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Finally, Barclays dropped their target price on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NOMD. Ruffer LLP purchased a new stake in shares of Nomad Foods during the fourth quarter valued at $26,823,000. Lombard Odier Asset Management Europe Ltd bought a new stake in Nomad Foods in the 4th quarter worth about $11,147,000. T. Rowe Price Investment Management Inc. bought a new position in Nomad Foods during the 4th quarter valued at about $10,979,000. Brigade Capital Management LP bought a new position in Nomad Foods during the 4th quarter valued at about $10,946,000. Finally, Balyasny Asset Management L.P. bought a new position in Nomad Foods during the 4th quarter valued at about $9,722,000. 75.26% of the stock is owned by institutional investors.

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.