Nomad Foods (NYSE:NOMD) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Nomad Foods (NYSE:NOMD) from a buy rating to a strong-buy rating in a research note released on Friday morning.

NOMD has been the subject of a number of other reports. Barclays increased their price target on Nomad Foods from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Mizuho boosted their price target on Nomad Foods from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th.

Nomad Foods Stock Performance

NYSE NOMD opened at $19.10 on Friday. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 14.36 and a beta of 0.83. The company has a quick ratio of 0.72, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. Nomad Foods has a twelve month low of $15.43 and a twelve month high of $20.81. The stock has a fifty day simple moving average of $19.10 and a 200 day simple moving average of $17.95.

Nomad Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.68 annualized dividend and a yield of 3.56%. This is a boost from Nomad Foods’s previous quarterly dividend of $0.15. Nomad Foods’s payout ratio is currently 45.03%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Nomad Foods by 11.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,140,867 shares of the company’s stock worth $19,144,000 after purchasing an additional 114,026 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Nomad Foods in the 4th quarter valued at approximately $11,967,000. PNC Financial Services Group Inc. raised its holdings in Nomad Foods by 10.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 27,333 shares of the company’s stock valued at $459,000 after acquiring an additional 2,535 shares during the period. River Road Asset Management LLC lifted its position in shares of Nomad Foods by 0.6% during the fourth quarter. River Road Asset Management LLC now owns 4,044,438 shares of the company’s stock worth $67,866,000 after acquiring an additional 24,775 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Nomad Foods in the fourth quarter worth $317,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

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.