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The following are today's upgrades for Validea's Earnings Yield Investor model based on the published strategy of Joel Greenblatt. This value model looks for companies with high return on capital and earnings yields.

NOMAD FOODS LTD (NOMD) is a mid-cap growth stock in the Food Processing industry. The rating according to our strategy based on Joel Greenblatt changed from 80% to 90% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.

Company Description: Nomad Foods Limited is a frozen food company. The Company's portfolio of food brands within the frozen category includes Birds Eye, Findus, iglo, Belviva, Aunt Bessie's, Goodfella's, and others. Its products are sold primarily through grocery retailers under the Birds Eye brand in the United Kingdom and Ireland; Findus in Italy, France, Spain, Sweden, Switzerland, and Norway; Iglo in Germany and other continental markets; La Cocinera in Spain, Ledo in south-eastern Europe, and Frikom in Serbia and North Macedonia. Its product offerings include frozen fish products, such as fish fingers, coated fish, natural fish; ready to cook vegetable products, such as peas and spinach; and frozen poultry and meat products, such as nuggets, grills, and burgers. It also includes a variety of other offerings, such as soups, pizza, bakery goods and meat substitutes. The Company manufactures, sells, and distributes a range of branded frozen food products across over 13 European countries.

The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.

Detailed Analysis of NOMAD FOODS LTD

About Joel Greenblatt: In his 2005 bestseller The Little Book That Beats The Market, hedge fund manager Joel Greenblatt laid out a stunningly simple way to beat the market using two -- and only two -- fundamental variables. The "Magic Formula," as he called it, produced back-tested returns of 30.8 percent per year from 1988 through 2004, more than doubling the S&P 500's 12.4 percent return during that time. Greenblatt also produced exceptional returns as managing partner at Gotham Capital, a New York City-based hedge fund he founded. The firm averaged a remarkable 40 percent annualized return over more than two decades.

About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.