Short Interest in Nomad Foods Limited (NYSE:NOMD) Expands By 45.2%

Nomad Foods Limited (NYSE:NOMD) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 2,120,000 shares, an increase of 45.2% from the January 15th total of 1,460,000 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 754,600 shares, the days-to-cover ratio is presently 2.8 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays reduced their target price on shares of Nomad Foods from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. StockNews.com raised Nomad Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Mizuho reduced their price objective on shares of Nomad Foods from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th.

Nomad Foods Price Performance

Shares of NYSE:NOMD traded down $0.26 on Friday, hitting $18.05. The stock had a trading volume of 415,752 shares, compared to its average volume of 613,113. Nomad Foods has a twelve month low of $15.43 and a twelve month high of $20.05. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 13.57 and a beta of 0.79. The firm’s 50 day moving average price is $17.07 and its 200-day moving average price is $17.81. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.20.

Nomad Foods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th will be paid a $0.17 dividend. This is a boost from Nomad Foods’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Monday, February 10th. Nomad Foods’s dividend payout ratio (DPR) is 45.11%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. First Bank & Trust bought a new stake in Nomad Foods in the 3rd quarter valued at $192,000. Custom Index Systems LLC lifted its stake in Nomad Foods by 4.7% in the 3rd quarter. Custom Index Systems LLC now owns 18,845 shares of the company’s stock valued at $359,000 after purchasing an additional 847 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of Nomad Foods by 0.7% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 202,735 shares of the company’s stock worth $3,864,000 after acquiring an additional 1,450 shares during the period. Oak Ridge Investments LLC raised its position in shares of Nomad Foods by 1.9% in the third quarter. Oak Ridge Investments LLC now owns 296,243 shares of the company’s stock valued at $5,646,000 after purchasing an additional 5,456 shares during the period. Finally, VELA Investment Management LLC bought a new stake in shares of Nomad Foods during the third quarter worth approximately $286,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

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.