Nomad Foods (NYSE:NOMD) Sets New 1-Year Low – What’s Next?

Nomad Foods Limited (NYSE:NOMD) shares reached a new 52-week low on Tuesday . The stock traded as low as $9.43 and last traded at $9.7350, with a volume of 1723415 shares trading hands. The stock had previously closed at $9.74.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NOMD. Zacks Research lowered shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Weiss Ratings lowered shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Mizuho reduced their price objective on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. BTIG Research reduced their price objective on Nomad Foods from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price objective (down from $15.00) on shares of Nomad Foods in a research report on Monday. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.75.

Nomad Foods Trading Down 0.5%

The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 9.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.07. The business’s 50-day simple moving average is $11.36 and its 200-day simple moving average is $11.98.

Nomad Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 11th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 7.1%. The ex-dividend date was Wednesday, February 11th. Nomad Foods’s dividend payout ratio is currently 66.67%.

Institutional Trading of Nomad Foods

A number of institutional investors have recently bought and sold shares of NOMD. WealthCollab LLC lifted its stake in shares of Nomad Foods by 242.0% in the 4th quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock valued at $26,000 after purchasing an additional 1,452 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Nomad Foods by 3,231.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company’s stock worth $29,000 after purchasing an additional 2,262 shares during the period. SBI Securities Co. Ltd. grew its stake in shares of Nomad Foods by 469.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company’s stock worth $30,000 after purchasing an additional 1,996 shares during the period. Johnson Financial Group Inc. bought a new stake in Nomad Foods in the third quarter valued at about $43,000. Finally, Mondrian Investment Partners LTD acquired a new position in Nomad Foods in the third quarter valued at about $44,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

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.