Nomad Foods (NYSE:NOMD) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Nomad Foods (NYSE:NOMD) from a buy rating to a hold rating in a research note released on Sunday.

NOMD has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Nomad Foods from $23.00 to $24.00 and gave the stock a buy rating in a report on Thursday, August 8th. Barclays cut their price objective on shares of Nomad Foods from $22.00 to $21.00 and set an overweight rating on the stock in a report on Friday, July 19th. Finally, Mizuho increased their target price on shares of Nomad Foods from $26.00 to $28.00 and gave the company a buy rating in a report on Friday, May 10th.

Nomad Foods Stock Performance

NYSE:NOMD opened at $19.40 on Friday. The stock’s 50-day moving average is $17.99 and its 200-day moving average is $18.27. Nomad Foods has a 1-year low of $13.56 and a 1-year high of $20.05. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.80. The stock has a market cap of $3.16 billion, a P/E ratio of 16.16 and a beta of 0.78.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $810.64 million during the quarter, compared to analyst estimates of $822.21 million. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. Equities research analysts anticipate that Nomad Foods will post 1.94 earnings per share for the current year.

Nomad Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Saturday, August 10th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Friday, August 9th. Nomad Foods’s dividend payout ratio (DPR) is currently 50.00%.

Institutional Investors Weigh In On Nomad Foods

Several hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in shares of Nomad Foods by 133.2% during the second quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock valued at $27,000 after purchasing an additional 934 shares during the period. Headlands Technologies LLC bought a new stake in Nomad Foods in the 2nd quarter worth $42,000. National Bank of Canada FI increased its position in shares of Nomad Foods by 378.4% in the second quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $46,000 after acquiring an additional 2,195 shares during the period. Quarry LP raised its stake in shares of Nomad Foods by 366.5% during the second quarter. Quarry LP now owns 3,004 shares of the company’s stock valued at $50,000 after acquiring an additional 2,360 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Nomad Foods during the second quarter worth about $120,000. Institutional investors 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.