Mizuho Issues Positive Forecast for Nomad Foods (NYSE:NOMD) Stock Price

Nomad Foods (NYSE:NOMD) had its target price upped by Mizuho from $24.00 to $26.00 in a research note issued to investors on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other equities analysts have also recently commented on NOMD. Deutsche Bank Aktiengesellschaft lowered their target price 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. Barclays raised their target price on shares of Nomad Foods from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday. Finally, StockNews.com raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th.

Nomad Foods Stock Down 0.7 %

Nomad Foods stock opened at $20.40 on Tuesday. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 15.34 and a beta of 0.77. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. The company’s 50-day moving average price is $17.59 and its two-hundred day moving average price is $17.86. Nomad Foods has a 52 week low of $15.43 and a 52 week high of $20.81.

Nomad Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were paid a $0.17 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.68 annualized dividend and a dividend yield of 3.33%. This is a boost from Nomad Foods’s previous quarterly dividend of $0.15. Nomad Foods’s payout ratio is currently 45.03%.

Hedge Funds Weigh In On Nomad Foods

Hedge funds have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. grew its stake in shares of Nomad Foods by 61.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock worth $40,000 after purchasing an additional 800 shares during the last quarter. Blue Trust Inc. increased its position in shares of Nomad Foods by 70.6% in the fourth quarter. Blue Trust Inc. now owns 3,500 shares of the company’s stock worth $59,000 after acquiring an additional 1,448 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Nomad Foods in the fourth quarter worth approximately $62,000. Parkside Financial Bank & Trust increased its position in shares of Nomad Foods by 21.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,757 shares of the company’s stock worth $63,000 after acquiring an additional 670 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of Nomad Foods by 25.8% in the third quarter. Avior Wealth Management LLC now owns 3,920 shares of the company’s stock worth $75,000 after acquiring an additional 804 shares in the last quarter. 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.