Nomad Foods (NYSE:NOMD) Sets New 1-Year High After Analyst Upgrade

Nomad Foods Limited (NYSE:NOMD - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday after Mizuho raised their price target on the stock from $24.00 to $26.00. Mizuho currently has an outperform rating on the stock. Nomad Foods traded as high as $20.38 and last traded at $20.64, with a volume of 163627 shares traded. The stock had previously closed at $18.90.

A number of other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Nomad Foods from $25.00 to $23.00 and set a "buy" rating for the company in a report on Monday, November 4th. Barclays upped their price target on shares of Nomad Foods from $19.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday. Finally, StockNews.com upgraded shares of Nomad Foods from a "hold" rating to a "buy" rating in a research note on Monday, November 18th.

Institutional Trading of Nomad Foods

Several institutional investors and hedge funds have recently made changes to their positions in NOMD. Robeco Institutional Asset Management B.V. increased its holdings in shares of Nomad Foods by 21.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 426,273 shares of the company's stock valued at $8,125,000 after acquiring an additional 76,394 shares during the period. Townsend & Associates Inc lifted its position in shares of Nomad Foods by 3.6% during the third quarter. Townsend & Associates Inc now owns 1,539,731 shares of the company's stock valued at $26,976,000 after buying an additional 53,694 shares during the last quarter. Atria Investments Inc lifted its position in shares of Nomad Foods by 34.0% during the third quarter. Atria Investments Inc now owns 19,201 shares of the company's stock valued at $366,000 after buying an additional 4,870 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Nomad Foods by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,069,181 shares of the company's stock valued at $39,439,000 after buying an additional 18,189 shares in the last quarter. Finally, MQS Management LLC purchased a new position in shares of Nomad Foods in the 3rd quarter worth approximately $350,000. 75.26% of the stock is currently owned by institutional investors.

Remove Ads

Nomad Foods Stock Performance

The stock has a market cap of $3.33 billion, a P/E ratio of 15.34 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 is $17.52 and its 200 day moving average is $17.84.

Nomad Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Monday, February 10th. This is a positive change from Nomad Foods's previous quarterly dividend of $0.15. Nomad Foods's dividend payout ratio is currently 45.03%.

About Nomad Foods

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.