Nomad Foods (NOMD) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Nomad Foods (NYSE:NOMD) from a strong-buy rating to a hold rating in a research note released on Wednesday, November 15th.

According to Zacks, “Nomad Foods Ltd. manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France and Norway. The Company’s portfolio of frozen food brands includes Birds Eye, Iglo and Findus. Nomad Foods Ltd. is headquartered in Feltham, the United Kingdom. “

Shares of Nomad Foods (NYSE:NOMD) opened at $16.62 on Wednesday. Nomad Foods has a 1-year low of $9.00 and a 1-year high of $16.90. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2,831.80 and a P/E ratio of 17.30.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Fund Management S.A. bought a new position in Nomad Foods during the second quarter valued at about $145,000. Empirical Finance LLC bought a new position in Nomad Foods during the third quarter valued at approximately $152,000. Jane Street Group LLC bought a new position in Nomad Foods during the third quarter valued at approximately $168,000. Stevens Capital Management LP bought a new position in Nomad Foods during the third quarter valued at approximately $174,000. Finally, Balter Liquid Alternatives LLC bought a new position in Nomad Foods during the second quarter valued at approximately $172,000. Institutional investors own 72.83% of the company’s stock.

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Nomad Foods Company Profile

Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The company’s frozen food products include fish, vegetables, poultry products, and ready meals. It sells its products directly or through distribution arrangements to supermarkets and large food retail chains under the Birdseye, Findus, and Iglo brands.

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