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

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.

Analysts Set New Price Targets

A number of analysts recently issued reports on NOMD shares. StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Mizuho dropped their price target on shares of 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 reduced their price objective on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, November 4th.

Nomad Foods Stock Performance

The firm has a market capitalization of $2.55 billion, a P/E ratio of 11.75 and a beta of 0.79. 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 firm has a 50-day moving average price of $17.16 and a two-hundred day moving average price of $17.81.

Nomad Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 8th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Friday, November 8th. Nomad Foods’s dividend payout ratio (DPR) is presently 45.11%.

Institutional Investors Weigh In On Nomad Foods

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in shares of Nomad Foods by 8.3% in the second quarter. Renaissance Technologies LLC now owns 4,179,679 shares of the company’s stock valued at $68,881,000 after acquiring an additional 320,900 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Nomad Foods by 25.6% in the 3rd 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 in the last quarter. Thompson Siegel & Walmsley LLC lifted its position in shares of Nomad Foods by 47.4% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 472,133 shares of the company’s stock worth $7,781,000 after purchasing an additional 151,810 shares during the period. Hsbc Holdings PLC bought a new position in shares of Nomad Foods during the second quarter valued at approximately $2,412,000. Finally, Systematic Financial Management LP increased its holdings in Nomad Foods by 11.5% during the third quarter. Systematic Financial Management LP now owns 1,267,098 shares of the company’s stock valued at $24,151,000 after buying an additional 130,792 shares during the period. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Nomad Foods Company Profile

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.