Nomad Foods Limited (NYSE:NOMD) Sees Large Drop in Short Interest

Nomad Foods Limited (NYSE:NOMD) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,300,000 shares, a drop of 24.0% from the October 31st total of 1,710,000 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 604,100 shares, the short-interest ratio is currently 2.2 days.

Institutional Investors Weigh In On Nomad Foods

Several institutional investors have recently modified their holdings of NOMD. Blue Trust Inc. raised its stake in shares of Nomad Foods by 133.2% during the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock worth $27,000 after buying an additional 934 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Nomad Foods by 61.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock valued at $40,000 after acquiring an additional 800 shares in the last quarter. Headlands Technologies LLC acquired a new position in Nomad Foods during the second quarter worth about $42,000. National Bank of Canada FI lifted its holdings in shares of Nomad Foods by 378.4% in the second quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $46,000 after purchasing an additional 2,195 shares in the last quarter. Finally, Quarry LP grew its position in shares of Nomad Foods by 366.5% in the second quarter. Quarry LP now owns 3,004 shares of the company’s stock valued at $50,000 after purchasing an additional 2,360 shares during the last quarter. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NOMD shares. StockNews.com raised Nomad Foods from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Monday, November 4th.

Nomad Foods Price Performance

Shares of NYSE:NOMD traded up $0.22 on Friday, reaching $18.31. 532,819 shares of the company were exchanged, compared to its average volume of 974,331. The company has a 50-day moving average of $17.77 and a 200-day moving average of $17.92. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 13.77 and a beta of 0.79. Nomad Foods has a 1-year low of $15.76 and a 1-year high of $20.05.

Nomad Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 8th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 3.28%. Nomad Foods’s dividend payout ratio (DPR) is presently 45.11%.

About Nomad Foods

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.