Short Interest in Nomad Foods Limited (NYSE:NOMD) Rises By 29.7%

Key Points

• Nomad Foods Limited (NYSE:NOMD) experienced a notable 29.7% increase in short interest, with a total of 2,050,000 shares shorted as of August 15th.
• Analysts have adjusted their price targets for Nomad Foods; Barclays set a new target of $18.00 while Mizuho lowered theirs to $20.00, maintaining a "Buy" consensus rating with an average target price of $20.33.
• The company recently announced a quarterly dividend of $0.17 per share, representing an annual yield of 4.8%, with a payout ratio of 46.58%.

Nomad Foods Limited (NYSE:NOMD - Get Free Report) was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totaling 2,050,000 shares, anincreaseof29.7% from the July 31st total of 1,580,000 shares. Based on an average daily volume of 935,100 shares, the short-interest ratio is currently 2.2 days. Approximately1.6% of the shares of the company are short sold. Approximately1.6% of the shares of the company are short sold. Based on an average daily volume of 935,100 shares, the short-interest ratio is currently 2.2 days.

Analysts Set New Price Targets

NOMD has been the topic of several research analyst reports. Barclays dropped their price objective 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 dropped their target price 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 research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Nomad Foods presently has a consensus rating of "Buy" and a consensus price target of $20.33.

Nomad Foods Price Performance

Shares of Nomad Foods stock traded down $0.32 during trading on Tuesday, hitting $14.22. The stock had a trading volume of 2,194,686 shares, compared to its average volume of 849,570. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 9.72 and a beta of 0.70. Nomad Foods has a 12 month low of $14.00 and a 12 month high of $20.81. The business's 50-day moving average is $16.38 and its 200 day moving average is $17.90. The company has a current ratio of 1.02, a quick ratio of 0.63 and a debt-to-equity ratio of 0.81.

Nomad Foods (NYSE:NOMD - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share. As a group, sell-side analysts anticipate that Nomad Foods will post 1.82 earnings per share for the current year.

Nomad Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were issued a $0.17 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.68 annualized dividend and a yield of 4.8%. Nomad Foods's dividend payout ratio (DPR) is 46.58%.

Institutional Investors Weigh In On Nomad Foods

Large investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new stake in Nomad Foods in the 1st quarter worth approximately $32,000. Osaic Holdings Inc. grew its position in Nomad Foods by 87.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company's stock worth $45,000 after purchasing an additional 1,240 shares during the period. Lazard Asset Management LLC bought a new stake in Nomad Foods in the 4th quarter worth approximately $134,000. State of Wyoming grew its position in Nomad Foods by 56.6% in the 1st quarter. State of Wyoming now owns 9,466 shares of the company's stock worth $186,000 after purchasing an additional 3,421 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in Nomad Foods in the 1st quarter worth approximately $196,000. Institutional investors 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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