Nomad Foods Limited (NYSE:NOMD) Short Interest Update

Nomad Foods Limited (NYSE:NOMD) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 1,350,000 shares, a decline of 25.0% from the November 30th total of 1,800,000 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 667,900 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. StockNews.com raised Nomad Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Mizuho reduced their price target on Nomad Foods from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, November 4th.

Nomad Foods Stock Down 1.4 %

NOMD traded down $0.23 during trading on Friday, hitting $16.56. 374,241 shares of the company’s stock were exchanged, compared to its average volume of 622,276. The company has a quick ratio of 0.72, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $17.36 and its two-hundred day moving average is $17.83. The stock has a market cap of $2.70 billion, a P/E ratio of 12.45 and a beta of 0.78. Nomad Foods has a fifty-two week low of $15.99 and a fifty-two week high of $20.05.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Friday, November 8th were given a dividend of $0.15 per share. The ex-dividend date was Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 3.62%. Nomad Foods’s payout ratio is currently 45.11%.

Institutional Trading of Nomad Foods

Several hedge funds have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its stake in Nomad Foods by 61.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock worth $40,000 after buying an additional 800 shares in the last quarter. Headlands Technologies LLC bought a new position in Nomad Foods in the second quarter worth $42,000. National Bank of Canada FI grew its holdings in Nomad Foods by 378.4% in the second quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock worth $46,000 after purchasing an additional 2,195 shares during the period. Quarry LP increased its position in Nomad Foods by 366.5% during the 2nd quarter. Quarry LP now owns 3,004 shares of the company’s stock valued at $50,000 after buying an additional 2,360 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of Nomad Foods by 25.8% in the third quarter. Avior Wealth Management LLC now owns 3,920 shares of the company’s stock worth $75,000 after buying an additional 804 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

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.