Nomad Foods Limited (NYSE:NOMD) Sees Significant Drop in Short Interest

Nomad Foods Limited (NYSE:NOMD) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 1,300,000 shares, a decline of 24.0% from the October 31st total of 1,710,000 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 604,100 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Swedbank AB acquired a new position in Nomad Foods during the first quarter worth $10,425,000. Assenagon Asset Management S.A. lifted its holdings in Nomad Foods by 123.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 548,738 shares of the company’s stock valued at $9,043,000 after purchasing an additional 302,913 shares during the last quarter. SG Americas Securities LLC bought a new position in Nomad Foods during the 2nd quarter valued at about $251,000. Townsend & Associates Inc boosted its position in Nomad Foods by 3.6% in the third quarter. Townsend & Associates Inc now owns 1,539,731 shares of the company’s stock valued at $26,976,000 after buying an additional 53,694 shares in the last quarter. Finally, Seizert Capital Partners LLC grew its stake in Nomad Foods by 42.7% during the third quarter. Seizert Capital Partners LLC now owns 270,164 shares of the company’s stock worth $5,149,000 after buying an additional 80,807 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Stock Performance

Nomad Foods stock traded up $0.22 on Friday, reaching $18.31. 532,819 shares of the stock were exchanged, compared to its average volume of 974,331. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. Nomad Foods has a twelve month low of $15.76 and a twelve month high of $20.05. The firm has a fifty day moving average price of $17.77 and a two-hundred day moving average price of $17.92. The stock has a market cap of $2.98 billion, a PE ratio of 13.77 and a beta of 0.79.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 8th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Friday, November 8th. Nomad Foods’s dividend payout ratio (DPR) is presently 45.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, November 4th.

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.