Nomad Foods Limited (NYSE:NOMD) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Analysts give Nomad Foods a consensus "Hold" from six covering firms (2 sell, 1 hold, 3 buy) with an average 12‑month target of $12.50, and several brokers (BTIG, Deutsche Bank, Mizuho, Barclays, Zacks) have recently cut price targets or ratings.
• The company pays a quarterly dividend of $0.17 ($0.68 annualized) for a 7.0% yield and a payout ratio of 66.7%, making it notable for income investors.
• Institutional investors own 75.26% of the stock with recent large stakes from Ruffer, Polaris, Lombard Odier, T. Rowe Price and Brigade, while the shares trade around $9.73 (market cap $1.38B), near a 52‑week low of $9.43.

Shares of Nomad Foods Limited (NYSE:NOMD - Get Free Report) have received an average recommendation of "Hold" from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $12.50.

NOMD has been the subject of a number of research reports. BTIG Research decreased their price objective on shares of Nomad Foods from $18.00 to $15.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Zacks Research downgraded shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $10.00 price target (down from $15.00) on shares of Nomad Foods in a report on Monday, March 30th. Mizuho reduced their price target on shares of Nomad Foods from $15.00 to $13.00 and set an "outperform" rating for the company in a report on Tuesday, March 3rd. Finally, Barclays reduced their price target on shares of Nomad Foods from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Tuesday.

Institutional Investors Weigh In On Nomad Foods

Several institutional investors have recently bought and sold shares of the stock. Ruffer LLP bought a new stake in Nomad Foods in the fourth quarter worth about $26,823,000. Polaris Capital Management LLC raised its position in Nomad Foods by 138.8% in the third quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company's stock worth $45,261,000 after acquiring an additional 2,000,400 shares in the last quarter. Lombard Odier Asset Management Europe Ltd bought a new stake in Nomad Foods in the fourth quarter worth about $11,147,000. T. Rowe Price Investment Management Inc. bought a new stake in Nomad Foods in the fourth quarter worth about $10,979,000. Finally, Brigade Capital Management LP bought a new stake in Nomad Foods in the fourth quarter worth about $10,946,000. Institutional investors and hedge funds own 75.26% of the company's stock.

Nomad Foods Trading Up 1.6%

NOMD opened at $9.73 on Friday. The firm has a market capitalization of $1.38 billion, a P/E ratio of 9.53 and a beta of 0.74. The firm's 50 day moving average is $10.69 and its 200-day moving average is $11.67. Nomad Foods has a 52-week low of $9.43 and a 52-week high of $20.29. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.90.

Nomad Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.68 annualized dividend and a dividend yield of 7.0%. Nomad Foods's payout ratio is 66.67%.

Nomad Foods Company Profile

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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