Nomad Foods (NYSE:NOMD) was upgraded to “Buy” at StockNews.com

StockNews.com updated the quotes of Nomad Foods (NYSE:NOMD – Free Report) from a hold rating to a buy rating in a report on Monday.

Other equities research analysts have also issued research reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Nomad Foods from $23.00 to $24.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Barclays reduced their price objective on Nomad Foods from $22.00 to $21.00 and set an overweight rating on the stock in a research report on Friday, July 19th.

Check out our latest review of Nomad Foods

Nomad Foods trading up 0.9%

Shares of NOMD stock opened at $19.18 on Monday. Nomad Foods has a 12 month low of $13.56 and a 12 month high of $20.05. The firm has a market cap of $3.13 billion, a P/E ratio of 15.98 and a beta of 0.78. The company has a current ratio of 1.17, a quick ratio of 0.73, and a debt-to-equity ratio of 0.80. The stock’s fifty-day simple moving average is $18.10, and its 200-day simple moving average is $18.29.

Nomad Foods (NYSE:NOMD – Get Your Free Report ) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Nomad Foods had a return on equity of 9.78% and a net margin of 6.79%. The company had revenue of $810.64 million for the quarter, compared to the consensus estimate of $822.21 million. On average, equities research analysts forecast that Nomad Foods will post 1.94 earnings per share for the current year.

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Saturday, August 10th were given a $0.15 dividend. The ex-dividend date was Friday, August 9. This represents a dividend of $0.60 on an annualized basis and a yield of 3.13%. Nomad Foods’ dividend yield is currently 50.00%.

Institutional nomadic food trade

Several large investors have recently modified their holdings of NOMD. Blue Trust Inc. boosted its holdings in Nomad Foods by 133.2% in the second quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock valued at $27,000 after purchasing an additional 934 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Nomad Foods in the second quarter valued at approximately $42,000. National Bank of Canada FI raised its stake in shares of Nomad Foods by 378.4% during the second quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $46,000 after purchasing an additional 2,195 shares in the last quarter. Quarry LP raised its position in shares of Nomad Foods by 366.5% in the second quarter. Quarry LP now owns 3,004 shares of the company’s stock worth $50,000 after buying an additional 2,360 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Nomad Foods in the second quarter worth $120,000. 75.26% of the shares are currently owned by institutional investors and hedge funds.

Nomad Foods Company Profile

(Get a free report)

Nomad Foods Limited, together with its subsidiaries, manufactures, markets and distributes a range of frozen food products in the UK and internationally. The company offers frozen fish products, including fish fingers, coated fish and natural fish; ready-to-cook vegetable products such as peas and spinach; and frozen meat and poultry products including nuggets, grills and burgers.

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