9 Best Pizza Stocks to Buy Now

4. Nomad Foods Limited (NYSE:NOMD)     

Number of Hedge Fund Holders: 30

Upside Potential: 32.60%

Nomad Foods Limited (NYSE:NOMD) is a British company, specializing in the frozen foods market. The company owns Goodfellas Pizza, which operates in the UK and Ireland regions.

The company was able to bag a 1.1% growth in net sales in Q2 2024, taking its net sales figure to $830.7 million, which was a result of a 1.6% increase in sales volume. The gross margin stood at 30.9%, which was up by 270 basis points. One of the reasons for gross-margin improvement was favorable product mix and higher supply chain productivity. The company has also been able to up its advertising and promotion expenditures by 30% on a YoY basis which, it believes, will bolster the brand’s market presence and product visibility.

Nomad Foods Limited (NYSE:NOMD) is also set to expand its product portfolio, especially in the chicken segment through Birds Eye and Findus brands’ product launches, aiming to expand into the markets of Germany and Italy.

The company has reaffirmed its full-year guidance, expecting net revenue growth of 3%-4% and adjusted EBITDA growth of 4%-6%. Nomad Foods also believes that the economic easing in Europe is also going to up their business, especially in the markets of Germany and Italy, where the company is just setting its feet.

Thus, 30 hedge funds are bullish on the stock as of Q2, 2024. This is on the back of the food market that is set to grow at a CAGR of 4.8%, and climb to $310.8 billion by 2032 from $297.5 billion in 2023, and given the company’s operational growth over the years. Moreover, eight analysts are predicting a 32.6% growth of the stock, through a revenue increase to $1.78 billion in 2024 and $1.95 billion in 2025.