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

Nomad Foods Limited (NYSE:NOMD) saw a significant 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. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily volume of 754,600 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Trading of Nomad Foods

A number of institutional investors have recently bought and sold shares of NOMD. Nomura Asset Management Co. Ltd. increased its stake in shares of Nomad Foods by 61.5% in the third 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 during the period. Blue Trust Inc. grew its position in Nomad Foods by 70.6% during the 4th quarter. Blue Trust Inc. now owns 3,500 shares of the company’s stock worth $59,000 after acquiring an additional 1,448 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in Nomad Foods during the 4th quarter worth approximately $62,000. Parkside Financial Bank & Trust grew its position in Nomad Foods by 21.7% during the 4th 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 position in 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 buying an additional 804 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Price Performance

Shares of NYSE NOMD traded down $0.26 during mid-day trading on Friday, reaching $18.05. The company had a trading volume of 415,752 shares, compared to its average volume of 613,113. The stock has a market cap of $2.94 billion, a PE ratio of 13.57 and a beta of 0.79. The company has a 50-day moving average price of $17.07 and a two-hundred day moving average price of $17.81. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. Nomad Foods has a 1-year low of $15.43 and a 1-year high of $20.05.

Nomad Foods Increases Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on NOMD. StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft reduced their price target on Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company 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 report on Wednesday, December 18th. Finally, Barclays lowered their target price on Nomad Foods from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th.

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.