Nomad Foods (NYSE:NOMD) Sets New 12-Month Low - Time to Sell?

Key Points

• Nomad Foods shares hit a new 52-week low at $14.72, with a closing price of $14.88 and over 105,200 shares traded.
• Equity analysts have downgraded its rating, with Wall Street Zen moving from a "buy" to a "hold" and Barclays reducing the target price.
• The company recently announced a quarterly dividend of $0.17 per share, with a yield of 4.6% and a payout ratio of 46.58%.

Nomad Foods Limited (NYSE:NOMD - Get Free Report)'s share price hit a new 52-week low on Friday . The stock traded as low as $14.72 and last traded at $14.88, with a volume of 105200 shares changing hands. The stock had previously closed at $15.01.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NOMD shares. 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. Wall Street Zen downgraded Nomad Foods from a "buy" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Mizuho decreased their target price on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Nomad Foods currently has a consensus rating of "Buy" and an average price target of $20.33.

Nomad Foods Trading Up 0.2%

The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63. The business has a 50 day moving average of $16.86 and a 200 day moving average of $18.14. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 10.32 and a beta of 0.72.

Nomad Foods (NYSE:NOMD - Get Free Report) last posted its earnings results 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. The firm 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 company's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. As a group, research analysts predict that Nomad Foods Limited will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, August 11th. Nomad Foods's payout ratio is 46.58%.

Hedge Funds Weigh In On Nomad Foods

Several institutional investors and hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of Nomad Foods during the 1st quarter worth $32,000. Johnson Financial Group Inc. acquired a new stake in shares of Nomad Foods in the 4th quarter valued at $62,000. Tower Research Capital LLC TRC raised its stake in Nomad Foods by 13,508.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,396 shares of the company's stock worth $107,000 after acquiring an additional 6,349 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Nomad Foods during the fourth quarter worth about $134,000. Finally, Quarry LP raised its stake in Nomad Foods by 964.8% during the fourth quarter. Quarry LP now owns 8,646 shares of the company's stock worth $145,000 after acquiring an additional 7,834 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company's stock.

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.