12 Best Food Stocks to Buy Under $30

9. Nomad Foods Limited (NYSE:NOMD)

Stock Price: $20.13

Number of Hedge Fund Holders: 27

Nomad Foods Limited (NYSE:NOMD) is a frozen food company that sells pizza, poultry, meat, fish, vegetables, and ice cream under the Birds Eye, Ledo, Frikom, iglo, and Findus brands. It manufactures and distributes its products in over 16 European countries.

On April 24, Jefferies analyst Robert Dickerson reiterated a Buy rating on Nomad Foods Limited (NYSE:NOMD) and set a price target of $25.00. 2024 marked the ninth consecutive year of record-high net sales and adjusted EBITDA for the company. Its full-year adjusted EPS reached €1.78, and the company has raised its full-year 2025 adjusted EPS guidance to €1.85-€1.89. This reflects continued confidence in its growth trajectory.

For the full year, the company reported a 1.8% rise in reported revenue to €3.1 billion, while adjusted EBITDA rose by 5.6% to €565 million. Nomad Foods Limited’s (NYSE:NOMD) performance in fiscal Q4 2024 also showed a 4.3% growth in reported revenue to €793 million, with organic revenue growth of 3.1% and volume growth of 4.7%.

The company plans to maintain its growth momentum in 2025, with organic revenue growth of 1%-3% and adjusted EBITDA growth of 2%- 4%. Management is confident about Nomad Foods Limited’s (NYSE:NOMD) potential to deliver a tenth consecutive year of sales and adjusted EBITDA growth, supported by strategic investments and strong cash generation.