StockNews.com upgraded shares of Nomad Foods (NYSE:NOMD - Free Report) from a hold rating to a buy rating in a report issued on Friday.
A number of other analysts also recently commented on NOMD. Barclays dropped their price objective on Nomad Foods from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Friday, July 19th. 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 research note on Thursday, August 8th.
View Our Latest Report on NOMD
Nomad Foods Stock Performance
NOMD stock traded up $0.01 during trading on Friday, reaching $17.57. 264,507 shares of the company's stock were exchanged, compared to its average volume of 581,306. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.80. Nomad Foods has a 1-year low of $13.59 and a 1-year high of $20.05. The company's fifty day moving average price is $18.58 and its 200-day moving average price is $18.11. The firm has a market cap of $2.86 billion, a PE ratio of 14.64 and a beta of 0.78.
Nomad Foods (NYSE:NOMD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.47. Nomad Foods had a return on equity of 9.78% and a net margin of 6.79%. The company had revenue of $810.64 million during the quarter, compared to analyst estimates of $822.21 million. On average, research analysts expect that Nomad Foods will post 1.96 EPS for the current fiscal year.
Nomad Foods Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Saturday, August 10th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.41%. Nomad Foods's dividend payout ratio is 50.00%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Mutual of America Capital Management LLC purchased a new position in Nomad Foods in the first quarter valued at about $3,645,000. Swedbank AB purchased a new position in Nomad Foods in the first quarter valued at about $10,425,000. Russell Investments Group Ltd. grew its stake in Nomad Foods by 16.3% in the first quarter. Russell Investments Group Ltd. now owns 1,377,332 shares of the company's stock valued at $26,941,000 after purchasing an additional 193,531 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Nomad Foods by 123.2% in the second quarter. Assenagon Asset Management S.A. now owns 548,738 shares of the company's stock valued at $9,043,000 after purchasing an additional 302,913 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in Nomad Foods in the first quarter valued at about $1,398,000. Hedge funds and other institutional investors own 75.26% of the company's stock.
About Nomad Foods
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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.
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