Nomad Foods (NYSE:NOMD) Reaches New 1-Year Low – Time to Sell?

Shares of Nomad Foods Limited (NYSE:NOMD) hit a new 52-week low on Wednesday . The company traded as low as $9.49 and last traded at $9.5620, with a volume of 205097 shares. The stock had previously closed at $9.70.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Zacks Research lowered shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Barclays cut their price target on shares of Nomad Foods from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Weiss Ratings cut shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Mizuho lowered their price objective on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Finally, BTIG Research dropped their price objective 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. Three equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.67.

Nomad Foods Trading Up 0.6%

The stock has a 50-day moving average of $11.53 and a 200 day moving average of $12.12. The stock has a market cap of $1.37 billion, a PE ratio of 9.47 and a beta of 0.74. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.90.

Nomad Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend was Wednesday, February 11th. Nomad Foods’s dividend payout ratio is 66.67%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Polaris Capital Management LLC lifted its holdings in shares of Nomad Foods by 138.8% in the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock valued at $45,261,000 after buying an additional 2,000,400 shares during the period. Moody Aldrich Partners LLC grew its holdings in Nomad Foods by 188.1% during the third quarter. Moody Aldrich Partners LLC now owns 247,558 shares of the company’s stock worth $3,255,000 after acquiring an additional 161,623 shares during the period. Norges Bank purchased a new position in Nomad Foods during the second quarter valued at approximately $15,603,000. American Assets Inc. purchased a new position in Nomad Foods during the third quarter valued at approximately $526,000. Finally, Invenomic Capital Management LP lifted its holdings in Nomad Foods by 144.2% in the third quarter. Invenomic Capital Management LP now owns 952,268 shares of the company’s stock valued at $12,522,000 after acquiring an additional 562,304 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.

Nomad Foods Company Profile

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.