On February 27, 2023, Goldman Sachs upgraded their outlook for Nomad Foods from Neutral to Buy.

Analyst Price Forecast Suggests 35.20% Upside

As of February 27, 2023, the average one-year price target for Nomad Foods is $23.55. The forecasts range from a low of $18.18 to a high of $28.35. The average price target represents an increase of 35.20% from its latest reported closing price of $17.42.

The projected annual revenue for Nomad Foods is $3,067MM, an increase of 4.33%. The projected annual EPS is $1.83, an increase of 27.64%.

What are large shareholders doing?

Wellington Management Group Llp holds 14,740K shares representing 8.54% ownership of the company. In it’s prior filing, the firm reported owning 11,898K shares, representing an increase of 19.28%. The firm decreased its portfolio allocation in NOMD by 99.98% over the last quarter.

Alliancebernstein holds 11,843K shares representing 6.86% ownership of the company. In it’s prior filing, the firm reported owning 11,366K shares, representing an increase of 4.03%. The firm increased its portfolio allocation in NOMD by 17.59% over the last quarter.

T. Rowe Price Investment Management holds 9,569K shares representing 5.55% ownership of the company. In it’s prior filing, the firm reported owning 9,101K shares, representing an increase of 4.89%. The firm increased its portfolio allocation in NOMD by 22.61% over the last quarter.

Allspring Global Investments Holdings holds 9,389K shares representing 5.44% ownership of the company. In it’s prior filing, the firm reported owning 9,921K shares, representing a decrease of 5.67%. The firm increased its portfolio allocation in NOMD by 10.77% over the last quarter.

Polaris Capital Management holds 7,226K shares representing 4.19% ownership of the company. In it’s prior filing, the firm reported owning 7,297K shares, representing a decrease of 0.98%. The firm increased its portfolio allocation in NOMD by 6.70% over the last quarter.

What is the Fund Sentiment?

There are 335 funds or institutions reporting positions in Nomad Foods. This is a decrease of 8 owner(s) or 2.33% in the last quarter. Average portfolio weight of all funds dedicated to NOMD is 0.39%, a decrease of 14.64%. Total shares owned by institutions decreased in the last three months by 0.93% to 171,707K shares. The put/call ratio of NOMD is 0.08, indicating a bullish outlook.

Nomad Foods Background Information
(This description is provided by the company.)

Nomad Foods is Europe’s leading frozen foods company. The company’s portfolio of iconic brands, which includes Birds Eye, Findus, Iglo, Aunt Bessie’s and Goodfella’s, have been a part of consumers’ meals for generations, standing for great tasting food that is convenient, high quality and nutritious. Nomad Foods is headquartered in the United Kingdom.

This article originally appeared on Fintel