Nomad Foods (NYSE:NOMD) Sets New 1-Year Low - Time to Sell?

Key Points

• Nomad Foods shares hit a new 52-week low at $9.43 and were trading around $9.74 on heavy volume (~1.72M), with a market cap of $1.38B and a P/E of 9.54, well below its 50- and 200-day moving averages (~$11.45 and $12.03).
• Analysts have cut price targets and issued mixed ratings—three Buys, one Hold and two Sells—resulting in a MarketBeat consensus of Hold and an average price target of $12.75.
• Nomad pays a quarterly dividend of $0.17 (annualized $0.68) for a yield of about 7.0% with a payout ratio of 66.7%, and roughly 75% of the stock is held by institutional investors.

Nomad Foods Limited (NYSE:NOMD - Get Free Report) shares hit a new 52-week low on Tuesday . The stock traded as low as $9.43 and last traded at $9.7350, with a volume of 1723415 shares. The stock had previously closed at $9.74.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Mizuho cut their price objective on Nomad Foods from $15.00 to $13.00 and set an "outperform" rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings cut Nomad Foods from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, March 2nd. BTIG Research dropped their target price on shares of Nomad Foods from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, March 2nd. Barclays cut their price target on shares of Nomad Foods from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, March 2nd. Finally, Zacks Research cut shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a research report on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $12.75.

Nomad Foods Trading Down 0.1%

The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 9.54 and a beta of 0.74. The business's 50-day moving average price is $11.45 and its 200 day moving average price is $12.03. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 0.66.

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Wednesday, February 11th. Nomad Foods's dividend payout ratio is presently 66.67%.

Institutional Trading of Nomad Foods

A number of hedge funds and other institutional investors have recently modified their holdings of NOMD. WealthCollab LLC lifted its stake in shares of Nomad Foods by 242.0% in the fourth quarter. WealthCollab LLC now owns 2,052 shares of the company's stock worth $26,000 after acquiring an additional 1,452 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Nomad Foods by 3,231.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,332 shares of the company's stock valued at $29,000 after purchasing an additional 2,262 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in Nomad Foods by 469.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company's stock worth $30,000 after purchasing an additional 1,996 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Nomad Foods during the 3rd quarter worth approximately $43,000. Finally, Mondrian Investment Partners LTD acquired a new position in shares of Nomad Foods in the 3rd quarter valued at approximately $44,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Nomad Foods Company Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company's portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella's and Aunt Bessie's, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe's largest frozen foods platform.

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