Barclays Raises Nomad Foods (NYSE:NOMD) Price Target to $22.00

Nomad Foods (NYSE:NOMDFree Report) had its price objective increased by Barclays from $20.00 to $22.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, upgraded Nomad Foods from a hold rating to a buy rating in a research report on Thursday, November 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $22.00.

Check Out Our Latest Stock Analysis on NOMD

Nomad Foods Trading Down 2.8 %

Shares of NOMD opened at $17.68 on Friday. Nomad Foods has a fifty-two week low of $13.56 and a fifty-two week high of $19.76. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 13.81 and a beta of 0.76. The firm has a 50 day moving average price of $17.14 and a 200-day moving average price of $16.54. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.67 and a current ratio of 1.18.

Nomad Foods (NYSE:NOMDGet Free Report) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. Nomad Foods had a net margin of 6.79% and a return on equity of 10.56%. The business had revenue of $830.98 million during the quarter. As a group, equities research analysts forecast that Nomad Foods will post 1.73 earnings per share for the current year.

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Friday, February 9th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, February 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.39%.

Institutional Investors Weigh In On Nomad Foods

Several institutional investors and hedge funds have recently bought and sold shares of NOMD. Parkside Financial Bank & Trust purchased a new position in shares of Nomad Foods during the fourth quarter valued at approximately $26,000. Quarry LP purchased a new position in Nomad Foods during the 2nd quarter valued at $30,000. NBC Securities Inc. bought a new position in Nomad Foods in the 3rd quarter worth $31,000. Lazard Asset Management LLC lifted its position in shares of Nomad Foods by 117.5% in the 4th quarter. Lazard Asset Management LLC now owns 1,897 shares of the company’s stock worth $32,000 after purchasing an additional 1,025 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Nomad Foods by 745.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,882 shares of the company’s stock valued at $59,000 after purchasing an additional 3,423 shares in the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.

About Nomad Foods

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Nomad Foods Limited manufactures, markets, and distributes a range of frozen food products in the United Kingdom, Italy, Germany, France, Sweden, Austria, Norway, Spain, Serbia, Croatia, Switzerland, and rest of Europe. 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.

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