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

Nomad Foods Limited (NYSE:NOMD) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 2,790,000 shares, a growth of 31.6% from the January 31st total of 2,120,000 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average daily volume of 672,700 shares, the days-to-cover ratio is currently 4.1 days.

Analyst Ratings Changes

NOMD has been the subject of several recent research reports. Barclays boosted their price target on Nomad Foods from $19.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday. Mizuho boosted their price target on Nomad Foods from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price target on Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th.

Nomad Foods Price Performance

NYSE NOMD traded up $0.46 during midday trading on Tuesday, hitting $20.30. The company had a trading volume of 1,825,098 shares, compared to its average volume of 588,512. The company has a market capitalization of $3.31 billion, a PE ratio of 15.26 and a beta of 0.79. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $17.44 and a 200-day moving average price of $17.82. Nomad Foods has a twelve month low of $15.43 and a twelve month high of $20.83.

Nomad Foods Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Monday, February 10th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Nomad Foods’s previous quarterly dividend of $0.15. Nomad Foods’s dividend payout ratio is presently 51.13%.

Hedge Funds Weigh In On Nomad Foods

Institutional investors and hedge funds have recently bought and sold shares of the company. Townsend & Associates Inc grew its position in shares of Nomad Foods by 3.6% in the 3rd 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 during the last quarter. Systematic Financial Management LP boosted its position in shares of Nomad Foods by 11.5% during the 3rd quarter. Systematic Financial Management LP now owns 1,267,098 shares of the company’s stock valued at $24,151,000 after purchasing an additional 130,792 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Nomad Foods during the 4th quarter valued at about $317,000. HighTower Advisors LLC bought a new stake in shares of Nomad Foods during the 3rd quarter valued at about $218,000. Finally, Loomis Sayles & Co. L P boosted its position in shares of Nomad Foods by 25.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,418,497 shares of the company’s stock valued at $27,036,000 after purchasing an additional 289,090 shares in the last quarter. 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.