In this article, we discuss 5 best stocks to buy for beginners right now. If you want to see more stocks that might be suitable for investors just starting their trading journey, check out 10 Best Stocks To Buy For Beginners Right Now.
5. Nomad Foods Limited (NYSE:NOMD)
Share Price as of April 7: $22.10
Number of Hedge Fund Holders: 23
Nomad Foods Limited (NYSE:NOMD) is based in Feltham, United Kingdom, offering frozen food products to supermarkets and food retail chains in the United Kingdom, Italy, Germany, France, Sweden, Austria, Norway, Spain, and other European countries. Priced at $22.10 as of April 7, Nomad Foods Limited (NYSE:NOMD) is one of the most popular stocks among beginner investors.
As part of a broader research note on Packaged Foods, UBS analyst Cody Ross initiated coverage of Nomad Foods Limited (NYSE:NOMD) with a Buy rating and a $26 price target on March 30. The analyst observed that consumers are currently “the healthiest they have been in some time”, with high net worths and rising wages. In this inflationary backdrop, the analyst prefers companies that have greater pricing power and can increase margins by innovation and brand equity.
According to Insider Monkey’s fourth quarter database, 23 hedge funds placed long bets on Nomad Foods Limited (NYSE:NOMD), with combined stakes valued at approximately $294 million. Renaissance Technologies held the biggest position in the company, with 4.4 million shares worth $112.5 million.
Here is what FAM Funds has to say about Nomad Foods Limited (NYSE:NOMD) in its Q4 2020 investor letter:
“The proceeds(from a sold equity) were primarily invested into a new idea — Nomad Foods (NOMD), a producer of branded frozen food products in Europe. Product categories include fish, vegetables, and meat substitutes. Management’s plan is to continually improve the brands they control while seeking opportunities to buy and upgrade similar companies. In the past, key members of senior management pursued this strategy at other businesses and created significant returns for shareholders. As COVID-19 rolled across Europe, Nomad became one of the few beneficiaries of the pandemic as consumers stopped visiting restaurants and increasingly ate at home.”