Nomad Foods (NYSE:NOMD) Coverage Initiated at Berenberg Bank

Research analysts at Berenberg Bank assumed coverage on shares of Nomad Foods (NYSE:NOMD) in a research report issued to clients and investors on Thursday, November 16th. The firm set a “buy” rating and a $18.00 price target on the stock. Berenberg Bank’s price objective would suggest a potential upside of 8.30% from the company’s previous close.

Separately, Zacks Investment Research downgraded Nomad Foods from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 15th. Six research analysts have rated the stock with a buy rating, Nomad Foods presently has an average rating of “Buy” and an average price target of $17.20.

Shares of Nomad Foods (NOMD) opened at $16.62 on Thursday. The company has a quick ratio of 0.56, a current ratio of 1.03 and a debt-to-equity ratio of 0.77. Nomad Foods has a 1-year low of $9.10 and a 1-year high of $16.90. The company has a market capitalization of $2,860.00 and a price-to-earnings ratio of 17.50.

Large investors have recently made changes to their positions in the company. Scoggin Management LP purchased a new stake in Nomad Foods during the third quarter valued at $18,213,000. Neuberger Berman Group LLC purchased a new stake in Nomad Foods during the third quarter valued at $14,312,000. California Public Employees Retirement System purchased a new stake in Nomad Foods during the third quarter valued at $1,613,000. Highbridge Capital Management LLC purchased a new stake in Nomad Foods during the third quarter valued at $447,000. Finally, Janus Henderson Group PLC increased its position in Nomad Foods by 45.5% during the third quarter. Janus Henderson Group PLC now owns 3,960,204 shares of the company’s stock valued at $57,700,000 after acquiring an additional 1,238,607 shares during the last quarter. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

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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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