11 Best Undervalued UK Stocks to Buy Right Now

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6. Nomad Foods Limited (NYSE:NOMD)

Forward P/E Ratio: 9.58

Number of Hedge Fund Holders: 27

Nomad Foods Limited (NYSE:NOMD) is recognized as one of the largest frozen food companies in Europe and around the globe. The company markets and sells a range of branded frozen foods across 16 European markets. Its products include frozen fish, ready-to-cook, frozen meat, ready meals, and more.

The company had a strong finish to fiscal 2024, which was characterized by volume growth, organic sales growth, and gross margin expansion. The fourth quarter ended with revenues growing 4.3% to €793 million along with a volume growth of 4.7%. Nomad Foods Limited (NYSE:NOMD) has been delivering consistent growth over the past 9 years, marked by organic sales growing at a compound annual growth rate of 3% since 2016.

Management of the company has been focused on strengthening its innovation engine. It increased the proportion of its sales coming from new products by 4.8% in 2024 and expects it to exceed 5% next year. Looking ahead, Nomad Foods Limited (NYSE:NOMD) aims to further expand its profit margins by improving its production and supply chain. It is one of the best undervalued UK stocks to buy right now.

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