Nomad Foods (NYSE:NOMD) Rating Increased to Buy at StockNews.com

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

Separately, Deutsche Bank Aktiengesellschaft decreased 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 report on Monday, November 4th.

Nomad Foods Stock Up 1.6 %

Shares of Nomad Foods stock opened at $16.74 on Monday. The company has a market cap of $2.73 billion, a P/E ratio of 12.59 and a beta of 0.79. The firm has a fifty day moving average of $18.13 and a two-hundred day moving average of $17.97. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.73 and a current ratio of 1.17. Nomad Foods has a one year low of $15.76 and a one year high of $20.05.

Nomad Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 8th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 3.58%. Nomad Foods’s dividend payout ratio (DPR) is presently 45.11%.

Hedge Funds Weigh In On Nomad Foods

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Swedbank AB purchased a new stake in shares of Nomad Foods during the 1st quarter worth about $10,425,000. Assenagon Asset Management S.A. increased its position in shares of Nomad Foods by 123.2% in the second quarter. Assenagon Asset Management S.A. now owns 548,738 shares of the company’s stock worth $9,043,000 after acquiring an additional 302,913 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Nomad Foods in the 2nd quarter valued at $251,000. Townsend & Associates Inc lifted its holdings in shares of Nomad Foods by 3.6% during the 3rd quarter. Townsend & Associates Inc now owns 1,539,731 shares of the company’s stock valued at $26,976,000 after acquiring an additional 53,694 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Nomad Foods by 8.3% during the 2nd quarter. Renaissance Technologies LLC now owns 4,179,679 shares of the company’s stock worth $68,881,000 after purchasing an additional 320,900 shares during the period. 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.