Nomad Foods Limited (NYSE:NOMD) Given Average Rating of "Hold" by Brokerages

Key Points

• Nomad Foods has an average analyst rating of "Hold" from six brokerages, with a consensus 12-month price target of $12.50. Analyst opinions are mixed, including one sell, two hold, and three buy ratings.
• Recent insider buying was notable, as CEO Dominic Brisby and Director Ian G. H. Ashken both purchased shares in May. Insiders bought 264,731 shares in the last quarter, and company insiders now own 17.27% of the stock.
• The company reported better-than-expected Q1 earnings, posting EPS of $0.27 versus the $0.21 estimate and revenue of $827.87 million versus $804 million expected. Nomad Foods also pays a quarterly dividend of $0.17 per share, which annualizes to a 5.9% yield.

Shares of Nomad Foods Limited (NYSE:NOMD - Get Free Report) have been assigned an average rating of "Hold" from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $12.50.

A number of research analysts have recently commented on the stock. BTIG Research reissued a "buy" rating and issued a $15.00 price objective on shares of Nomad Foods in a research report on Wednesday, May 13th. Weiss Ratings downgraded shares of Nomad Foods from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, May 26th. Zacks Research upgraded Nomad Foods from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 13th. Barclays reduced their price target on Nomad Foods from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a research note on Monday, March 30th.

Insider Activity at Nomad Foods

In other Nomad Foods news, CEO Dominic Brisby purchased 150,000 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average price of $9.79 per share, for a total transaction of $1,468,500.00. Following the purchase, the chief executive officer owned 676,794 shares in the company, valued at approximately $6,625,813.26. The trade was a 28.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ian G. H. Ashken purchased 100,000 shares of the business's stock in a transaction on Wednesday, May 13th. The shares were acquired at an average cost of $9.13 per share, with a total value of $913,000.00. Following the acquisition, the director directly owned 116,916 shares in the company, valued at approximately $1,067,443.08. The trade was a 591.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 264,731 shares of company stock worth $2,524,538. Company insiders own 17.27% of the company's stock.

Hedge Funds Weigh In On Nomad Foods

Several large investors have recently modified their holdings of NOMD. WealthCollab LLC lifted its stake in shares of Nomad Foods by 242.0% during the 4th quarter. WealthCollab LLC now owns 2,052 shares of the company's stock worth $26,000 after buying an additional 1,452 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Nomad Foods by 3,231.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company's stock valued at $29,000 after buying an additional 2,262 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in Nomad Foods by 469.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company's stock valued at $30,000 after acquiring an additional 1,996 shares during the period. Johnson Financial Group Inc. bought a new position in Nomad Foods in the 3rd quarter valued at about $43,000. Finally, Osaic Holdings Inc. lifted its position in Nomad Foods by 87.4% during the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company's stock worth $45,000 after acquiring an additional 1,240 shares during the last quarter. 75.26% of the stock is owned by institutional investors.

Nomad Foods Trading Up 2.0%

NYSE NOMD opened at $11.48 on Friday. The company has a market cap of $1.60 billion, a PE ratio of 11.14 and a beta of 0.69. The company has a current ratio of 1.06, a quick ratio of 0.66 and a debt-to-equity ratio of 0.91. Nomad Foods has a 12 month low of $8.99 and a 12 month high of $18.33. The stock has a 50 day moving average of $10.10 and a 200-day moving average of $10.93.

Nomad Foods (NYSE:NOMD - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.06. Nomad Foods had a net margin of 4.43% and a return on equity of 9.05%. The business had revenue of $827.87 million for the quarter, compared to the consensus estimate of $804.00 million. During the same period in the previous year, the company earned $0.21 earnings per share. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. On average, equities research analysts anticipate that Nomad Foods will post 1.75 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Tuesday, May 12th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.9%. Nomad Foods's payout ratio is presently 66.02%.

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.

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