Nomad Foods (NYSE:NOMD) Sets New 12-Month Low – Should You Sell?

Shares of Nomad Foods Limited (NYSE:NOMD) reached a new 52-week low during trading on Friday . The stock traded as low as $9.41 and last traded at $9.4810, with a volume of 447582 shares traded. The stock had previously closed at $9.72.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NOMD. Weiss Ratings cut shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. BTIG Research dropped their price objective on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Mizuho cut their price objective on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Zacks Research cut Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 target price (down from $15.00) on shares of Nomad Foods in a research report on Monday, March 30th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.50.

Nomad Foods Price Performance

The firm’s 50-day moving average price is $10.11 and its 200-day moving average price is $11.48. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $1.36 billion, a PE ratio of 9.35 and a beta of 0.74.

Nomad Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, May 12th. This represents a $0.68 dividend on an annualized basis and a yield of 7.1%. Nomad Foods’s dividend payout ratio is 66.67%.

Institutional Investors Weigh In On Nomad Foods

Several institutional investors have recently modified their holdings of NOMD. Money Concepts Capital Corp boosted its holdings in shares of Nomad Foods by 24.7% in the 1st quarter. Money Concepts Capital Corp now owns 233,883 shares of the company’s stock worth $2,248,000 after purchasing an additional 46,288 shares during the period. R Squared Ltd raised its holdings in Nomad Foods by 7.4% during the 1st quarter. R Squared Ltd now owns 33,400 shares of the company’s stock valued at $321,000 after buying an additional 2,296 shares during the period. Sound Income Strategies LLC lifted its position in Nomad Foods by 102.3% in the first quarter. Sound Income Strategies LLC now owns 676,241 shares of the company’s stock worth $6,472,000 after buying an additional 341,964 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Nomad Foods by 3,231.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company’s stock worth $29,000 after buying an additional 2,262 shares during the last quarter. Finally, DGS Capital Management LLC boosted its stake in Nomad Foods by 17.8% during the fourth quarter. DGS Capital Management LLC now owns 14,839 shares of the company’s stock worth $186,000 after buying an additional 2,243 shares during the period. 75.26% of the stock is owned by institutional investors.

Nomad Foods Company Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.