Nomad Foods (NYSE:NOMD) Hits New 52-Week Low – What’s Next?

Shares of Nomad Foods Limited (NYSE:NOMD) hit a new 52-week low during trading on Tuesday . The stock traded as low as $9.82 and last traded at $10.1250, with a volume of 2447436 shares. The stock had previously closed at $10.26.

Analysts Set New Price Targets

Several research firms have weighed in on NOMD. BTIG Research lowered their price target on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Weiss Ratings cut Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Mizuho lowered their target price on Nomad Foods from $15.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Barclays dropped their price target on Nomad Foods from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Finally, Zacks Research downgraded Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.67.

Nomad Foods Stock Up 1.9%

The company has a market cap of $1.47 billion, a P/E ratio of 10.15 and a beta of 0.74. The stock has a 50-day moving average of $12.02 and a 200 day moving average of $12.53. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 0.66.

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th were given a $0.17 dividend. The ex-dividend date was Wednesday, February 11th. This represents a $0.68 annualized dividend and a dividend yield of 6.6%. Nomad Foods’s payout ratio is presently 66.67%.

Institutional Trading of Nomad Foods

Several large investors have recently made changes to their positions in NOMD. Caitong International Asset Management Co. Ltd raised its position in 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 valued at $29,000 after purchasing an additional 2,262 shares in the last quarter. DGS Capital Management LLC boosted its holdings in shares of Nomad Foods by 17.8% in the 4th quarter. DGS Capital Management LLC now owns 14,839 shares of the company’s stock valued at $186,000 after purchasing an additional 2,243 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Nomad Foods in the 4th quarter valued at $10,979,000. Invesco Ltd. increased its stake in shares of Nomad Foods by 13.6% in the 4th quarter. Invesco Ltd. now owns 276,560 shares of the company’s stock valued at $3,460,000 after purchasing an additional 33,068 shares during the last quarter. Finally, Vident Advisory LLC increased its stake in shares of Nomad Foods by 3.9% in the 4th quarter. Vident Advisory LLC now owns 712,135 shares of the company’s stock valued at $8,909,000 after purchasing an additional 26,495 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

About Nomad Foods

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.