Nomad Foods Limited (NYSE:NOMD) Short Interest Update

Nomad Foods Limited (NYSE:NOMD) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 2,120,000 shares, an increase of 45.2% from the January 15th total of 1,460,000 shares. Based on an average daily volume of 754,600 shares, the days-to-cover ratio is currently 2.8 days. Currently, 1.6% of the company’s stock are sold short.

Hedge Funds Weigh In On Nomad Foods

Several institutional investors and hedge funds have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. grew its holdings in shares of Nomad Foods by 61.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock worth $40,000 after purchasing an additional 800 shares in the last quarter. Johnson Financial Group Inc. bought a new position in Nomad Foods in the 4th quarter valued at approximately $62,000. Blue Trust Inc. grew its stake in shares of Nomad Foods by 70.6% in the fourth quarter. Blue Trust Inc. now owns 3,500 shares of the company’s stock worth $59,000 after purchasing an additional 1,448 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Nomad Foods by 21.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,757 shares of the company’s stock worth $63,000 after acquiring an additional 670 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in shares of Nomad Foods by 25.8% in the 3rd quarter. Avior Wealth Management LLC now owns 3,920 shares of the company’s stock valued at $75,000 after purchasing an additional 804 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Nomad Foods Trading Down 1.4 %

Shares of NYSE NOMD traded down $0.26 during midday trading on Friday, reaching $18.05. 415,752 shares of the stock were exchanged, compared to its average volume of 613,113. 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 business has a 50-day simple moving average of $17.07 and a two-hundred day simple moving average of $17.81. Nomad Foods has a 12 month low of $15.43 and a 12 month high of $20.05. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 13.57 and a beta of 0.79.

Nomad Foods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Monday, February 10th will be paid a $0.17 dividend. The ex-dividend date is Monday, February 10th. This is a boost from Nomad Foods’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 3.77%. Nomad Foods’s dividend payout ratio (DPR) is currently 45.11%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday, November 4th. StockNews.com upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Barclays dropped their target price on Nomad Foods from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Mizuho lowered their target price on shares of Nomad Foods from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th.

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.