Nomad Foods Limited (NYSE:NOMD) Short Interest Update

Key Points

• Short interest in Nomad Foods Limited (NYSE:NOMD) decreased by 34.1% in August, falling from 2,050,000 shares to 1,350,000 shares, with around 1.1% of the company’s shares sold short.
• Institutional investors hold 75.26% of Nomad Foods' stock, with significant increases in positions reported by Osaic Holdings Inc. (up 87.4%) and State of Wyoming (up 88.5%) during the second quarter.
• Nomad Foods announced a quarterly dividend of $0.17 per share on August 26, resulting in an annualized dividend yield of 4.8%.

Nomad Foods Limited (NYSE:NOMD - Get Free Report) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 1,350,000 shares, a decrease of 34.1% from the August 15th total of 2,050,000 shares. Currently, 1.1% of the company's stock are short sold. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.1% of the company's stock are short sold.

Nomad Foods Trading Down 2.3%

Shares of NYSE:NOMD traded down $0.32 during mid-day trading on Friday, hitting $13.35. The stock had a trading volume of 1,383,147 shares, compared to its average volume of 1,551,952. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.63 and a current ratio of 1.02. Nomad Foods has a 12-month low of $13.31 and a 12-month high of $20.81. The company's 50 day moving average is $15.76 and its 200-day moving average is $17.58. The company has a market cap of $2.05 billion, a PE ratio of 9.14 and a beta of 0.70.

Nomad Foods (NYSE:NOMD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.01. The business had revenue of $879.27 million for the quarter, compared to analyst estimates of $762.81 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.The firm's revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, sell-side analysts predict that Nomad Foods will post 1.82 EPS for the current year.

Nomad Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were issued a $0.17 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.68 annualized dividend and a yield of 5.1%. Nomad Foods's dividend payout ratio (DPR) is currently 46.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NOMD shares. BTIG Research lowered their price objective on Nomad Foods from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday. Barclays dropped their price objective on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Finally, Mizuho reduced their target price on shares of Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Nomad Foods currently has an average rating of "Buy" and an average price target of $19.75.

Institutional Investors Weigh In On Nomad Foods

Institutional investors have recently made changes to their positions in the stock. Summit Securities Group LLC bought a new stake in Nomad Foods in the first quarter valued at approximately $32,000. Osaic Holdings Inc. increased its stake in shares of Nomad Foods by 87.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company's stock valued at $45,000 after purchasing an additional 1,240 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Nomad Foods in the 4th quarter valued at $134,000. State of Wyoming increased its stake in shares of Nomad Foods by 56.6% in the 1st quarter. State of Wyoming now owns 9,466 shares of the company's stock valued at $186,000 after purchasing an additional 3,421 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Nomad Foods during the 1st quarter valued at $196,000. 75.26% of the stock is owned by institutional investors and hedge funds.

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.