Nomad Foods (NYSE:NOMD) Reaches New 1-Year Low - Should You 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) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $14.72 and last traded at $14.88, with a volume of 105200 shares traded. The stock had previously closed at $15.01.

Analyst Ratings Changes

A number of equities analysts have issued reports on NOMD shares. Wall Street Zen cut Nomad Foods from a "buy" rating to a "hold" rating in a report on Friday, May 9th. Barclays reduced their target price on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, Mizuho dropped their price target on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday.

Nomad Foods Stock Performance

The stock has a 50-day moving average of $17.04 and a 200-day moving average of $18.21. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 10.20 and a beta of 0.72. 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 earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (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%. Nomad Foods's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. As a group, analysts anticipate that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.68 annualized dividend and a dividend yield of 4.6%. Nomad Foods's payout ratio is 46.58%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NOMD. Vanguard Group Inc. increased its position in shares of Nomad Foods by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 933,883 shares of the company's stock worth $15,671,000 after purchasing an additional 33,058 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Nomad Foods by 4.7% during the 4th quarter. Wells Fargo & Company MN now owns 81,645 shares of the company's stock worth $1,370,000 after purchasing an additional 3,632 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Nomad Foods by 3.3% during the 4th quarter. Legal & General Group Plc now owns 25,392 shares of the company's stock worth $426,000 after acquiring an additional 800 shares during the period. XTX Topco Ltd boosted its stake in shares of Nomad Foods by 66.8% during the 4th quarter. XTX Topco Ltd now owns 19,205 shares of the company's stock worth $322,000 after acquiring an additional 7,694 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Nomad Foods by 13,508.5% during the 4th 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 during the period. Institutional investors and hedge funds own 75.26% of the company's stock.

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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