Nomad Foods Limited (NYSE:NOMD) Stock Has Consensus Target Price of $13.80

Nomad Foods Limited (NYSE:NOMD) has received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $13.80.

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $15.00 target price on shares of Nomad Foods in a research report on Wednesday. Barclays increased their price target on shares of Nomad Foods from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Zacks Research cut shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. BTIG Research reissued a “buy” rating and set a $15.00 price objective on shares of Nomad Foods in a research note on Thursday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Nomad Foods in a research note on Tuesday, September 29th.

Insider Activity at Nomad Foods

In related news, CEO Dominic Brisby purchased 50,000 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were purchased at an average cost 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 in the company, valued at $8,997,709.72. This trade represents a 7.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ruben Baldew purchased 28,290 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was bought at an average cost of $11.85 per share, for a total transaction of $335,236.50. Following the completion of the transaction, the chief financial officer owned 367,172 shares in the company, valued at approximately $4,350,988.20. This represents a 8.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 17.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nomad Foods

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in shares of Nomad Foods by 6.0% in the first quarter. Renaissance Technologies LLC now owns 3,024,282 shares of the company’s stock worth $29,063,000 after acquiring an additional 172,215 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Nomad Foods by 7.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,782,238 shares of the company’s stock worth $17,127,000 after purchasing an additional 116,647 shares during the last quarter. Systematic Financial Management LP raised its position in shares of Nomad Foods by 7.8% in the 1st quarter. Systematic Financial Management LP now owns 1,728,211 shares of the company’s stock worth $16,608,000 after purchasing an additional 124,389 shares during the last quarter. Congress Asset Management Co. raised its position in shares of Nomad Foods by 21.7% in the 3rd quarter. Congress Asset Management Co. now owns 1,531,380 shares of the company’s stock worth $15,819,000 after purchasing an additional 272,805 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Nomad Foods by 19.0% in the 1st quarter. Bank of America Corp DE now owns 1,569,765 shares of the company’s stock worth $15,085,000 after purchasing an additional 251,148 shares in the last quarter. 75.26% of the stock is owned by institutional investors.

Nomad Foods Trading Down 2.2%

NOMD opened at $11.76 on Thursday. The stock has a market cap of $1.64 billion, a PE ratio of 10.69 and a beta of 0.74. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.88. The business has a 50 day moving average of $11.34 and a 200-day moving average of $11.02. Nomad Foods has a 52 week low of $8.99 and a 52 week high of $13.08.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. The company had revenue of $825.94 million for the quarter, compared to analysts’ expectations of $825.02 million. Nomad Foods had a return on equity of 8.63% and a net margin of 4.46%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. Equities research analysts predict that Nomad Foods will post 1.62 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.8%. Nomad Foods’s dividend payout ratio (DPR) is currently 66.67%.

About Nomad Foods

Nomad Foods is a frozen-food company focused on the European market. The company sells branded frozen meals and ingredients, including frozen fish, vegetables, poultry, potato products, pizza and plant-based foods. Its products are distributed through grocery retailers and other food channels across multiple European countries.

Nomad Foods’ portfolio includes well-known brands such as Birds Eye, Findus, iglo, Goodfella’s, Aunt Bessie’s and Green Cuisine. The brands offer products ranging from fish fingers, frozen vegetables and ready meals to frozen pizza, potato specialties and meat-free alternatives.

The company was formed in 2014 following the acquisition of the Iglo Group and expanded through subsequent acquisitions, including Findus operations in several European markets, Goodfella’s in 2018 and Aunt Bessie’s in 2020.