Nomad Foods (NYSE:NOMD) Price Target Lowered to $24.00 at Mizuho

Nomad Foods (NYSE:NOMD) had its price target trimmed by Mizuho from $28.00 to $24.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a report on Monday, November 18th.

Nomad Foods Stock Performance

NYSE:NOMD traded down $0.06 during mid-day trading on Wednesday, hitting $16.89. 110,046 shares of the stock were exchanged, compared to its average volume of 624,905. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.20. The firm’s 50-day simple moving average is $17.51 and its 200 day simple moving average is $17.87. Nomad Foods has a fifty-two week low of $15.99 and a fifty-two week high of $20.05. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 12.70 and a beta of 0.78.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Friday, November 8th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was Friday, November 8th. Nomad Foods’s payout ratio is currently 45.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NOMD. SG Americas Securities LLC acquired a new position in shares of Nomad Foods in the 2nd quarter valued at approximately $251,000. Townsend & Associates Inc increased its stake in Nomad Foods by 3.6% in the third 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 during the last quarter. Systematic Financial Management LP raised its position in Nomad Foods by 11.5% during the third quarter. Systematic Financial Management LP now owns 1,267,098 shares of the company’s stock valued at $24,151,000 after purchasing an additional 130,792 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in Nomad Foods by 25.6% during the third quarter. Loomis Sayles & Co. L P now owns 1,418,497 shares of the company’s stock worth $27,036,000 after purchasing an additional 289,090 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Nomad Foods by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,026,841 shares of the company’s stock worth $19,572,000 after purchasing an additional 48,303 shares during 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.