Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Nomad Foods (NYSE:NOMD) Stock Price

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

NOMD has been the subject of several other research reports. StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Barclays decreased their price target on Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th.

Nomad Foods Stock Performance

Shares of NOMD opened at $17.51 on Monday. The firm’s fifty day simple moving average is $18.42 and its two-hundred day simple moving average is $18.05. Nomad Foods has a 12 month low of $14.20 and a 12 month high of $20.05. The stock has a market capitalization of $2.85 billion, a P/E ratio of 12.97 and a beta of 0.79. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.80.

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

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 8th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Friday, November 8th. Nomad Foods’s payout ratio is 44.44%.

Hedge Funds Weigh In On Nomad Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Nomad Foods by 133.2% during the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock valued at $27,000 after acquiring an additional 934 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Nomad Foods in the 2nd quarter valued at about $42,000. National Bank of Canada FI lifted 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 buying an additional 2,195 shares during the period. Quarry LP lifted its holdings in shares of Nomad Foods by 366.5% in the 2nd quarter. Quarry LP now owns 3,004 shares of the company’s stock valued at $50,000 after buying an additional 2,360 shares during the period. Finally, nVerses Capital LLC acquired a new position in Nomad Foods in the 2nd quarter worth about $120,000. 75.26% of the stock is owned by institutional investors.

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.