Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Nomad Foods (NYSE:NOMD) Stock Price

Nomad Foods (NYSE:NOMD) had its target price cut by Deutsche Bank Aktiengesellschaft from $25.00 to $23.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also weighed in on the company. Barclays cut their target price 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. StockNews.com raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a report on Friday, October 25th.

Nomad Foods Stock Performance

Shares of NOMD remained flat at $17.68 during midday trading on Monday. The stock had a trading volume of 2,896 shares, compared to its average volume of 576,295. Nomad Foods has a fifty-two week low of $14.19 and a fifty-two week high of $20.05. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 13.10 and a beta of 0.79. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $18.49 and a 200-day moving average price of $18.07.

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

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Friday, November 8th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Friday, November 8th. Nomad Foods’s payout ratio is currently 44.44%.

Institutional Investors Weigh In On Nomad Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOMD. Boston Partners boosted its holdings in shares of Nomad Foods by 18.8% in the first quarter. Boston Partners now owns 8,563,043 shares of the company’s stock valued at $167,241,000 after acquiring an additional 1,356,159 shares in the last quarter. Renaissance Technologies LLC increased its stake in Nomad Foods by 8.3% in the 2nd quarter. Renaissance Technologies LLC now owns 4,179,679 shares of the company’s stock valued at $68,881,000 after purchasing an additional 320,900 shares in the last quarter. River Road Asset Management LLC raised its holdings in Nomad Foods by 2.9% during the third quarter. River Road Asset Management LLC now owns 4,019,663 shares of the company’s stock worth $76,615,000 after purchasing an additional 114,750 shares during the last quarter. Townsend & Associates Inc boosted its position in Nomad Foods by 3.6% during the third quarter. Townsend & Associates Inc now owns 1,539,731 shares of the company’s stock worth $26,976,000 after purchasing an additional 53,694 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Nomad Foods by 16.3% in the first quarter. Russell Investments Group Ltd. now owns 1,377,332 shares of the company’s stock valued at $26,941,000 after purchasing an additional 193,531 shares during the last quarter. Hedge funds and other institutional investors 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.