Nomad Foods (NYSE:NOMD) Upgraded at StockNews.com

StockNews.com upgraded shares of Nomad Foods (NYSE:NOMD) from a hold rating to a buy rating in a report published on Monday morning.

Separately, Deutsche Bank Aktiengesellschaft cut their price target on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, November 4th.

Nomad Foods Price Performance

NOMD stock opened at $17.55 on Monday. The business has a fifty day moving average of $18.00 and a two-hundred day moving average of $17.94. The company has a quick ratio of 0.72, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 13.19 and a beta of 0.79. Nomad Foods has a 52-week low of $15.76 and a 52-week high of $20.05.

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 8th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.42%. Nomad Foods’s payout ratio is 45.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Nomad Foods by 133.2% during the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock worth $27,000 after purchasing an additional 934 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Nomad Foods by 61.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock worth $40,000 after buying an additional 800 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Nomad Foods during the 2nd quarter worth about $42,000. National Bank of Canada FI increased its holdings in shares of Nomad Foods by 378.4% in the 2nd quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $46,000 after acquiring an additional 2,195 shares during the last quarter. Finally, Quarry LP raised its position in shares of Nomad Foods by 366.5% during the 2nd quarter. Quarry LP now owns 3,004 shares of the company’s stock worth $50,000 after acquiring an additional 2,360 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Company Profile

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.