Nomad Foods (NYSE:NOMD) Reaches New 12-Month Low - Should You Sell?

Key Points

• Nomad Foods Limited reached a new 52-week low of $13.96, closing at $14.07 with a trading volume of over 4.7 million shares.
• Recent analyst adjustments saw Barclays and Mizuho lower their target prices to $18.00 and $20.00 respectively, while the stock maintains a consensus rating of "Buy" with a target of $20.33.
• The company reported earnings of $0.45 per share, exceeding expectations, along with a quarterly dividend of $0.17 per share, yielding approximately 4.8% annually.

Nomad Foods Limited (NYSE:NOMD - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $13.96 and last traded at $14.07, with a volume of 4722142 shares trading hands. The stock had previously closed at $14.15.

Analyst Ratings Changes

A number of 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 lowered their price objective on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $20.33.

Nomad Foods Stock Performance

The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 9.63 and a beta of 0.70. The firm has a fifty day simple moving average of $16.25 and a 200 day simple moving average of $17.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63.

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 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 business's revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. On average, analysts anticipate that Nomad Foods Limited will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

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

Institutional Investors Weigh In On Nomad Foods

Several institutional investors have recently bought and sold shares of NOMD. Vontobel Holding Ltd. raised its holdings in shares of Nomad Foods by 3.5% during the second quarter. Vontobel Holding Ltd. now owns 20,417 shares of the company's stock valued at $347,000 after acquiring an additional 688 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Nomad Foods by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,048 shares of the company's stock worth $511,000 after purchasing an additional 690 shares in the last quarter. Tidal Investments LLC raised its stake in Nomad Foods by 1.9% in the 2nd quarter. Tidal Investments LLC now owns 38,037 shares of the company's stock valued at $646,000 after purchasing an additional 726 shares during the last quarter. Factorial Partners LLC raised its stake in Nomad Foods by 0.5% in the 1st quarter. Factorial Partners LLC now owns 192,100 shares of the company's stock valued at $3,775,000 after purchasing an additional 1,000 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Nomad Foods by 0.4% in the 2nd quarter. California Public Employees Retirement System now owns 268,627 shares of the company's stock valued at $4,564,000 after purchasing an additional 1,044 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

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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