Nomad Foods Limited (NYSE:NOMD – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $12.50.
A number of analysts have issued reports on NOMD shares. Zacks Research raised Nomad Foods from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Barclays cut their target price on Nomad Foods from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Mizuho cut their target price on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 target price (down from $15.00) on shares of Nomad Foods in a research note on Monday, March 30th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $15.00 target price on shares of Nomad Foods in a research note on Wednesday, May 13th.
Read Our Latest Research Report on NOMD
Nomad Foods Stock Up 4.4%
Nomad Foods (NYSE:NOMD – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.21 by $0.06. Nomad Foods had a return on equity of 9.05% and a net margin of 4.43%.The firm had revenue of $827.87 million during the quarter, compared to the consensus estimate of $804.00 million. During the same period in the prior year, the company earned $0.21 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. Nomad Foods has set its FY 2026 guidance at 1.720-1.900 EPS. Research analysts anticipate that Nomad Foods will post 1.76 EPS for the current fiscal year.
Nomad Foods Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Tuesday, May 12th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, May 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.6%. Nomad Foods’s dividend payout ratio is currently 66.02%.
Insider Transactions at Nomad Foods
In other Nomad Foods news, Director Ian G. H. Ashken purchased 100,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $9.13 per share, for a total transaction of $913,000.00. Following the acquisition, the director owned 116,916 shares in the company, valued at $1,067,443.08. This trade represents a 591.16% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dominic Brisby purchased 150,000 shares of the stock in a transaction dated Friday, May 15th. The shares were acquired at an average price of $9.79 per share, with a total value of $1,468,500.00. Following the completion of the acquisition, the chief executive officer owned 676,794 shares in the company, valued at approximately $6,625,813.26. This trade represents a 28.47% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 264,731 shares of company stock worth $2,524,538.
Hedge Funds Weigh In On Nomad Foods
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its holdings in Nomad Foods by 0.4% during the 2nd quarter. Alliancebernstein L.P. now owns 7,330,537 shares of the company’s stock valued at $124,546,000 after acquiring an additional 27,177 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Nomad Foods by 6.0% in the 1st quarter. Renaissance Technologies LLC now owns 3,024,282 shares of the company’s stock valued at $29,063,000 after buying an additional 172,215 shares during the period. Royce & Associates LP boosted its stake in shares of Nomad Foods by 1.3% in the 4th quarter. Royce & Associates LP now owns 2,484,858 shares of the company’s stock valued at $31,086,000 after buying an additional 33,052 shares during the period. Ruffer LLP purchased a new position in shares of Nomad Foods in the 4th quarter valued at about $26,823,000. Finally, Loomis Sayles & Co. L P boosted its stake in shares of Nomad Foods by 2.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,856,727 shares of the company’s stock valued at $23,228,000 after buying an additional 48,060 shares during the period. 75.26% of the stock is currently owned by hedge funds and other institutional investors.
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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