Nomad Foods (NYSE:NOMD) Sets New 52-Week Low – Time to Sell?

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on NOMD. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Mizuho reduced their target price on Nomad Foods from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th.

Nomad Foods Price Performance

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 stock has a fifty day simple moving average of $17.16 and a 200-day simple moving average of $17.81. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 11.75 and a beta of 0.79.

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 8th were issued a $0.15 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 3.84%. Nomad Foods’s payout ratio is 45.11%.

Institutional Investors Weigh In On Nomad Foods

A number of institutional investors have recently added to or reduced their stakes in NOMD. National Bank of Canada FI raised its holdings in shares of Nomad Foods by 378.4% during the second quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $46,000 after acquiring an additional 2,195 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Nomad Foods in the second quarter valued at about $42,000. Oppenheimer Asset Management Inc. increased its position in Nomad Foods by 26.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 19,773 shares of the company’s stock worth $326,000 after purchasing an additional 4,165 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its stake in Nomad Foods by 47.4% during the second 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. Finally, Renaissance Technologies LLC boosted its holdings in Nomad Foods by 8.3% in the 2nd quarter. Renaissance Technologies LLC now owns 4,179,679 shares of the company’s stock valued at $68,881,000 after purchasing an additional 320,900 shares during the last quarter. Institutional investors and hedge funds 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.