Nomad Foods (NYSE:NOMD) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Nomad Foods experienced a significant surge in trading volume on Tuesday, with 4.6 million shares traded, a 379% increase from the previous session.
• Wall Street analysts are mixed on Nomad Foods, with price targets ranging from $18.00 to $20.00, resulting in a consensus rating of "Moderate Buy."
• The company declared a quarterly dividend of $0.17 per share, yielding 5.3% on an annualized basis, with a payout ratio of 46.58%.

Shares of Nomad Foods Limited (NYSE:NOMD - Get Free Report) saw strong trading volume on Tuesday . 4,638,254 shares changed hands during trading, an increase of 379% from the previous session's volume of 967,762 shares.The stock last traded at $12.78 and had previously closed at $12.77.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. BTIG Research cut their price objective on shares of Nomad Foods from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nomad Foods in a research report on Saturday, September 27th. Zacks Research lowered shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a research report on Monday, September 29th. Barclays cut their price objective on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Finally, Mizuho cut their price objective on shares of Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

Nomad Foods Price Performance

The stock's 50-day moving average is $14.77 and its 200-day moving average is $17.03. The firm has a market cap of $1.96 billion, a P/E ratio of 8.76 and a beta of 0.70. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81.

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, topping analysts' consensus estimates of $0.44 by $0.01. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The business had revenue of $879.27 million for the quarter, compared to analyst estimates of $762.81 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Nomad Foods's revenue was down .8% compared to the same quarter last year. As a group, equities analysts anticipate that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 5.3%. Nomad Foods's payout ratio is currently 46.58%.

Institutional Investors Weigh In On Nomad Foods

A number of institutional investors have recently bought and sold shares of NOMD. Summit Securities Group LLC acquired a new stake in Nomad Foods during the first quarter worth $32,000. Osaic Holdings Inc. boosted its position in Nomad Foods by 87.4% in the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company's stock valued at $45,000 after buying an additional 1,240 shares in the last quarter. State of Wyoming grew its stake in Nomad Foods by 56.6% during the first quarter. State of Wyoming now owns 9,466 shares of the company's stock worth $186,000 after buying an additional 3,421 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Nomad Foods during the first quarter worth approximately $196,000. Finally, Sciencast Management LP acquired a new stake in shares of Nomad Foods during the first quarter worth approximately $196,000. 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.

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