Deutsche Bank Aktiengesellschaft Cuts Nomad Foods (NYSE:NOMD) Price Target to $23.00

Nomad Foods (NYSE:NOMD) had its price target decreased by Deutsche Bank Aktiengesellschaft from $25.00 to $23.00 in a research note published on Monday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on NOMD. Barclays decreased their target price on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. StockNews.com raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a research note on Friday, October 25th.

Nomad Foods Price Performance

Shares of NYSE NOMD opened at $17.25 on Monday. Nomad Foods has a fifty-two week low of $14.19 and a fifty-two week high of $20.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.73. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 12.78 and a beta of 0.79. The business has a 50-day moving average of $18.44 and a 200-day moving average of $18.05.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $810.64 million during the quarter, compared to the consensus estimate of $822.21 million. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. As a group, sell-side analysts predict that Nomad Foods will post 1.96 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, November 8th. This represents a $0.60 annualized dividend and a dividend yield of 3.48%. Nomad Foods’s dividend payout ratio is currently 44.44%.

Institutional Investors Weigh In On Nomad Foods

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mutual of America Capital Management LLC bought a new position in shares of Nomad Foods during the 1st quarter valued at approximately $3,645,000. Swedbank AB bought a new position in shares of Nomad Foods during the 1st quarter valued at approximately $10,425,000. Russell Investments Group Ltd. grew its position in shares of Nomad Foods by 16.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,377,332 shares of the company’s stock valued at $26,941,000 after acquiring an additional 193,531 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Nomad Foods by 123.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 548,738 shares of the company’s stock valued at $9,043,000 after acquiring an additional 302,913 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Nomad Foods during the 2nd quarter valued at approximately $251,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

About Nomad Foods

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom 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 poultry and meat products comprising nuggets, grills, and burgers.