Nomad Foods Limited (NYSE:NOMD) Short Interest Down 34.1% in August

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) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 1,350,000 shares, a decline of 34.1% from the August 15th total of 2,050,000 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is presently 1.3 days. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is presently 1.3 days. Approximately 1.1% of the shares of the company are sold short.

Institutional Trading of Nomad Foods

A number of large investors have recently modified their holdings of the business. Osaic Holdings Inc. boosted its position in shares of Nomad Foods by 87.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company's stock valued at $45,000 after acquiring an additional 1,240 shares during the last quarter. State of Wyoming boosted its position in shares of Nomad Foods by 88.5% during the 2nd quarter. State of Wyoming now owns 17,844 shares of the company's stock valued at $303,000 after acquiring an additional 8,378 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of Nomad Foods by 1,342.3% during the 2nd quarter. Headlands Technologies LLC now owns 14,899 shares of the company's stock valued at $253,000 after acquiring an additional 13,866 shares during the last quarter. Corient Private Wealth LLC bought a new stake in shares of Nomad Foods during the 2nd quarter valued at about $321,000. Finally, Captrust Financial Advisors lifted its position in Nomad Foods by 12.7% in the 2nd quarter. Captrust Financial Advisors now owns 18,481 shares of the company's stock worth $314,000 after buying an additional 2,084 shares during the last quarter. Institutional investors own 75.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays lowered their target price on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Mizuho reduced their price objective on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Nomad Foods currently has an average rating of "Buy" and an average target price of $20.33.

Nomad Foods Trading Down 0.6%

Shares of NOMD opened at $14.14 on Monday. The business has a 50-day moving average of $16.13 and a 200 day moving average of $17.77. Nomad Foods has a fifty-two week low of $13.96 and a fifty-two week high of $20.81. The firm has a market cap of $2.17 billion, a P/E ratio of 9.68 and a beta of 0.70. 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 (NYSE:NOMD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.The company had revenue of $879.27 million during the quarter, compared to analyst estimates of $762.81 million. During the same quarter last year, the firm posted $0.44 EPS. The firm's revenue for the quarter was down .8% on a year-over-year basis. As a group, research analysts forecast that Nomad Foods will post 1.82 EPS for the current year.

Nomad Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Monday, August 11th. Nomad Foods's dividend payout ratio (DPR) is 46.58%.

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.

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