Nomad Foods (NYSE:NOMD) Price Target Raised to $26.00 at Mizuho

Nomad Foods (NYSE:NOMD) had its price target raised by Mizuho from $24.00 to $26.00 in a research note published on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on NOMD. Deutsche Bank Aktiengesellschaft decreased their price objective on Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday, November 4th. StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Barclays lifted their price target on Nomad Foods from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday.

Nomad Foods Price Performance

Shares of NYSE NOMD opened at $20.30 on Tuesday. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 15.26 and a beta of 0.77. The business has a 50-day moving average of $17.44 and a 200-day moving average of $17.82. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72. Nomad Foods has a fifty-two week low of $15.43 and a fifty-two week high of $20.67.

Nomad Foods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were issued a dividend of $0.17 per share. The ex-dividend date was Monday, February 10th. This represents a $0.68 dividend on an annualized basis and a yield of 3.35%. This is a boost from Nomad Foods’s previous quarterly dividend of $0.15. Nomad Foods’s dividend payout ratio (DPR) is presently 45.03%.

Hedge Funds Weigh In On Nomad Foods

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. grew its holdings in Nomad Foods by 61.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock worth $40,000 after purchasing an additional 800 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Nomad Foods during the fourth quarter worth approximately $62,000. Blue Trust Inc. boosted its holdings in shares of Nomad Foods by 70.6% during the fourth quarter. Blue Trust Inc. now owns 3,500 shares of the company’s stock worth $59,000 after acquiring an additional 1,448 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Nomad Foods by 21.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,757 shares of the company’s stock worth $63,000 after acquiring an additional 670 shares during the period. Finally, Avior Wealth Management LLC boosted its holdings in shares of Nomad Foods by 25.8% during the third quarter. Avior Wealth Management LLC now owns 3,920 shares of the company’s stock worth $75,000 after acquiring an additional 804 shares during the period. Institutional investors 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.