Nomad Foods Limited (NYSE:NOMD) Sees Significant Decrease in Short Interest

Nomad Foods Limited (NYSE:NOMD) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 2,090,000 shares, a drop of 25.1% from the February 13th total of 2,790,000 shares. Based on an average trading volume of 697,400 shares, the short-interest ratio is presently 3.0 days. Approximately 1.7% of the company’s shares are short sold.

Analyst Ratings Changes

NOMD has been the subject of several recent research reports. Mizuho increased their price target on Nomad Foods from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Barclays boosted their price target on Nomad Foods from $19.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd.

Nomad Foods Stock Performance

Shares of NOMD stock opened at $19.53 on Friday. The company’s fifty day moving average price is $17.99 and its two-hundred day moving average price is $17.92. 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 market capitalization of $3.00 billion, a P/E ratio of 14.68 and a beta of 0.77. Nomad Foods has a 12 month low of $15.43 and a 12 month high of $20.81.

Nomad Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Monday, February 10th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Nomad Foods’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 3.48%. Nomad Foods’s dividend payout ratio (DPR) is currently 45.03%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NOMD. Systematic Financial Management LP grew its holdings in Nomad Foods by 11.5% in the 3rd quarter. Systematic Financial Management LP now owns 1,267,098 shares of the company’s stock worth $24,151,000 after buying an additional 130,792 shares in the last quarter. Empowered Funds LLC acquired a new stake in Nomad Foods in the fourth quarter worth about $317,000. Victory Capital Management Inc. increased its stake in Nomad Foods by 12.2% during the 4th quarter. Victory Capital Management Inc. now owns 2,322,267 shares of the company’s stock valued at $38,968,000 after buying an additional 253,086 shares during the period. River Road Asset Management LLC raised its position in shares of Nomad Foods by 0.6% during the 4th quarter. River Road Asset Management LLC now owns 4,044,438 shares of the company’s stock worth $67,866,000 after buying an additional 24,775 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of Nomad Foods during the third quarter valued at approximately $218,000. Institutional investors own 75.26% of the company’s stock.

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.