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

Nomad Foods Limited (NYSE:NOMD) reached a new 52-week low on Wednesday . The stock traded as low as $15.97 and last traded at $16.08, with a volume of 142675 shares changing hands. The stock had previously closed at $16.63.

Analyst Upgrades and Downgrades

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

Nomad Foods Stock Down 3.2 %

The business’s 50 day moving average is $17.22 and its 200-day moving average is $17.83. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72. The company has a market cap of $2.62 billion, a PE ratio of 12.11 and a beta of 0.79.

Nomad Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 8th were paid a $0.15 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 3.73%. Nomad Foods’s dividend payout ratio is currently 45.11%.

Hedge Funds Weigh In On Nomad Foods

Several hedge funds have recently made changes to their positions in the company. Townsend & Associates Inc boosted its stake in shares of Nomad Foods by 3.6% during the third quarter. Townsend & Associates Inc now owns 1,539,731 shares of the company’s stock worth $26,976,000 after buying an additional 53,694 shares during the period. Systematic Financial Management LP lifted its position in Nomad Foods by 11.5% during the 3rd quarter. Systematic Financial Management LP now owns 1,267,098 shares of the company’s stock worth $24,151,000 after acquiring an additional 130,792 shares during the period. HighTower Advisors LLC acquired a new stake in Nomad Foods during the 3rd quarter worth approximately $218,000. Loomis Sayles & Co. L P increased its holdings in shares of Nomad Foods by 25.6% in the third quarter. Loomis Sayles & Co. L P now owns 1,418,497 shares of the company’s stock valued at $27,036,000 after purchasing an additional 289,090 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Nomad Foods by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,026,841 shares of the company’s stock worth $19,572,000 after purchasing an additional 48,303 shares during the last quarter. Hedge funds and other institutional investors 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.