Nomad Foods Limited Price & Performance (NOMD)

Russell Investments Group significantly reduced its holdings in Nomad Foods during the fourth quarter, selling off over 62% of its position. Meanwhile, other major investors like Renaissance Group and ExodusPoint Capital have increased their stakes, signaling diverging institutional sentiment toward the European frozen food company.12

Nomad Foods posted its ninth consecutive year of record net sales and adjusted EBITDA, yet its price-to-earnings ratio remains well below that of competitors like BellRing Brands. This suggests the stock may be undervalued, especially as the board approved a 13% dividend hike and issued an optimistic 2025 outlook.34

Several analysts have raised their price targets for Nomad Foods, citing improved financial performance and a favorable growth outlook. Mizuho now targets $26 per share, while Barclays increased its estimate to $23, reflecting growing confidence in the company’s strategy and continued expansion in the frozen food sector.56