Boston Partners Global Investors, recently announced the acquisition of new stake in Nomad Foods Limited (NYSE:NOMD). The institutional investor has increased its shareholding in the Consumer Defensive company by 41.31% to 5.52 million shares with purchase of 1.61 million shares. This fresh investment now brings its stake to 3.20% valued currently at $93.53 million. In addition, Renaissance Technologies LLC raised its holdings by 19900.0 to 4.08 million shares. And Massachusetts Financial Services has lifted its position by 2.32% or 91049.0 shares – to 4.02 million shares.
With over 0.47 million Nomad Foods Limited (NOMD) shares trading Friday and a closing price of $17.85 on the day, the dollar volume was approximately $8.35 million. The shares have shown a positive half year performance of 0.17% and its price on 01/12/24 gained nearly 0.06%. Currently, there are 172.55M common shares owned by the public and among those 144.19M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for NOMD have a consensus price objective of $21.31. The analysts have set the share’s price value over the next 12 months at a high of $24.44 and a low of $18.27. The average price target is 22.86% above its recent price level and an upside to the estimated low will see the stock gain 2.3% over that period. But an upside of 26.96% will see the stock hit the forecast high price target while median target price for the stock is $21.26.
The top 3 mutual fund holders in Nomad Foods Limited are Undiscovered Managers Behavioral, Allspring Special Small Cap Value, and T Rowe Price Small Cap Value Fund. Undiscovered Managers Behavioral owns 4.21 million shares of the company’s stock, all valued at over $71.36 million. The company sold 9100.0 shares recently to bring their total holdings to about 2.44% of the shares outstanding. T Rowe Price Small Cap Value Fund sold 7800.0 shares to bring its total holdings to over 3.65 million shares at a value of $61.92 million. T Rowe Price Small Cap Value Fund now owns shares totaling to 2.12% of the shares outstanding.
Shares of Nomad Foods Limited (NYSE: NOMD) opened at $18.17, up $0.33 from a prior closing price of $17.84. However, the script later moved the day high at 18.17, up 0.06%. The company’s stock has a 5-day price change of 0.79% and 24.48% over the past three months. NOMD shares are trading 5.31% year to date (YTD), with the 12-month market performance up to 4.02% higher. It has a 12-month low price of $13.56 and touched a high of $19.76 over the same period. NOMD has an average intraday trading volume of 711.03K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.66%, 9.57%, and 4.69% respectively.
Institutional ownership of Nomad Foods Limited (NYSE: NOMD) shares accounts for 72.51% of the company’s 172.55M shares outstanding. Mutual fund holders own 29.20%, while other institutional holders and individual stakeholders account for 44.29% and — respectively.
It has a market capitalization of $3.08B and a beta (3y monthly) value of 0.75. The stock’s trailing 12-month PE ratio is 14.01, while the earnings-per-share (ttm) stands at $1.27. The company has a PEG of 3.78 and a Quick Ratio of 0.67 with the debt-to-equity ratio at 0.81. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.49% over the week and 1.98% over the month.
Analysts forecast that Nomad Foods Limited (NOMD) will achieve an EPS of $0.33 for the current quarter, $0.52 for the next quarter and $1.92 for 2024. The lowest estimate earnings-per-share for the quarter is $0.31 while analysts give the company a high EPS estimate of $0.34. Comparatively, EPS for the current quarter was $0.36 a year ago. Earnings per share for the fiscal year are expected to decrease by -3.02%, and 9.89% over the next financial year. EPS should shrink at an annualized rate of 3.71% over the next five years, compared to 11.36% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Nomad Foods Limited (NOMD) as a “Strong Buy” at a consensus score of 1.12. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 0 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NOMD, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on February 27, 2023, with the firm’s price target at $21.
