Nomad Foods Limited (NYSE:NOMD – Get Free Report) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $11.69 and traded as low as $10.78. Nomad Foods shares last traded at $10.8630, with a volume of 1,362,167 shares.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on NOMD. Zacks Research cut Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $11.00 price objective on shares of Nomad Foods in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Nomad Foods from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 2nd. Barclays lifted their target price on shares of Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Finally, BTIG Research reissued a “buy” rating and set a $15.00 price target on shares of Nomad Foods in a report on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.25.
Check Out Our Latest Stock Analysis on Nomad Foods
Nomad Foods Stock Down 2.0%
Nomad Foods (NYSE:NOMD – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $825.94 million for the quarter, compared to analysts’ expectations of $825.02 million. Nomad Foods had a net margin of 4.20% and a return on equity of 8.88%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. Equities research analysts anticipate that Nomad Foods Limited will post 1.63 EPS for the current year.
Nomad Foods Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.3%. Nomad Foods’s payout ratio is currently 66.67%.
Insider Buying and Selling
In other news, CEO Dominic Brisby acquired 50,000 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were bought at an average price of $12.38 per share, for a total transaction of $619,000.00. Following the acquisition, the chief executive officer owned 726,794 shares of the company’s stock, valued at approximately $8,997,709.72. This trade represents a 7.39% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ruben Baldew bought 28,290 shares of the stock in a transaction on Wednesday, August 19th. The shares were acquired at an average cost of $11.85 per share, for a total transaction of $335,236.50. Following the purchase, the chief financial officer owned 367,172 shares in the company, valued at $4,350,988.20. The trade was a 8.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 17.27% of the company’s stock.
Hedge Funds Weigh In On Nomad Foods
Several hedge funds and other institutional investors have recently modified their holdings of NOMD. Public Employees Retirement System of Ohio acquired a new position in Nomad Foods during the second quarter worth about $411,000. Ancora Advisors LLC acquired a new stake in Nomad Foods in the 2nd quarter valued at about $6,465,000. Assenagon Asset Management S.A. purchased a new position in Nomad Foods in the 2nd quarter worth approximately $3,175,000. Alpine Woods Capital Investors LLC purchased a new position in Nomad Foods in the 1st quarter worth approximately $150,000. Finally, Flax Pond Capital LLC acquired a new position in shares of Nomad Foods during the 1st quarter worth approximately $772,000. 75.26% of the stock is owned by hedge funds and other institutional investors.
About Nomad Foods
Nomad Foods is a European food company focused on the frozen-food market. Its portfolio includes frozen fish, vegetables, meals, poultry products, potato products and ice cream, which it sells through retail and foodservice channels.
The company’s principal brands include Birds Eye in the United Kingdom and other markets, Findus in several European countries, and iglo in Germany, Austria and other parts of continental Europe. Its portfolio also includes Aunt Bessie’s and Goodfella’s, among other regional brands.
Nomad Foods was formed in 2014 and acquired the Iglo Group, including the Birds Eye, Findus and iglo businesses, in 2015.
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