Nomad Foods (NYSE:NOMD) Sees Strong Trading Volume – Here’s Why

Nomad Foods Limited (NYSE:NOMDGet Free Report) saw unusually-high trading volume on Wednesday . Approximately 4,268,868 shares changed hands during mid-day trading, an increase of 163% from the previous session’s volume of 1,621,649 shares.The stock last traded at $11.9650 and had previously closed at $11.42.

Analyst Ratings Changes

Several equities research analysts have issued reports on NOMD shares. Weiss Ratings upgraded Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 2nd. Zacks Research downgraded shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday. Barclays lifted their price target on shares of Nomad Foods from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. BTIG Research reiterated a “buy” rating and set a $15.00 price objective on shares of Nomad Foods in a research note on Friday, August 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $11.00 price objective on shares of Nomad Foods in a report on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.25.

Get Our Latest Analysis on Nomad Foods

Nomad Foods Trading Up 5.2%

The company has a market cap of $1.68 billion, a price-to-earnings ratio of 11.78 and a beta of 0.69. The firm has a 50-day moving average price of $11.33 and a 200 day moving average price of $10.81. The company has a current ratio of 1.10, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90.

Nomad Foods (NYSE:NOMDGet Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. Nomad Foods had a return on equity of 8.88% and a net margin of 4.20%.The business had revenue of $825.94 million during the quarter, compared to the consensus estimate of $825.02 million. During the same period in the previous year, the business earned $0.40 EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. As a group, sell-side analysts forecast that Nomad Foods Limited will post 1.69 EPS for the current year.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Nomad Foods’s dividend payout ratio is 66.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. WealthCollab LLC raised its stake in Nomad Foods by 242.0% during the fourth quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock worth $26,000 after acquiring an additional 1,452 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Nomad Foods by 3,231.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company’s stock valued at $29,000 after purchasing an additional 2,262 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Nomad Foods by 469.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company’s stock valued at $30,000 after purchasing an additional 1,996 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Nomad Foods during the 3rd quarter worth approximately $43,000. Finally, Osaic Holdings Inc. raised its position in shares of Nomad Foods by 87.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after purchasing an additional 1,240 shares during the period. 75.26% of the stock is owned by institutional investors and hedge funds.

Nomad Foods Company Profile

(Get Free Report)

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.

Further Reading

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