Nomad Foods (NYSE:NOMD) Stock Passes Below 50 Day Moving Average of $17.60

Nomad Foods Limited (NYSE:NOMD)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $17.60 and traded as low as $16.61. Nomad Foods shares last traded at $16.70, with a volume of 249,584 shares.

Analyst Ratings Changes

Separately, Mizuho increased their target price on Nomad Foods from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, May 10th.

Nomad Foods Stock Up 0.5 %

The firm’s 50-day simple moving average is $17.60 and its 200-day simple moving average is $18.04. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.73 and a current ratio of 1.14. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 13.92 and a beta of 0.79.

Nomad Foods (NYSE:NOMD) last released its earnings results on Thursday, May 9th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Nomad Foods had a return on equity of 9.68% and a net margin of 6.10%. The firm had revenue of $850.90 million for the quarter, compared to analyst estimates of $858.61 million. Sell-side analysts forecast that Nomad Foods Limited will post 1.9 earnings per share for the current year.

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Thursday, May 9th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Wednesday, May 8th. Nomad Foods’s dividend payout ratio is presently 50.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NOMD. Boston Partners raised its position in Nomad Foods by 30.6% in the fourth quarter. Boston Partners now owns 7,206,884 shares of the company’s stock worth $122,251,000 after purchasing an additional 1,688,624 shares in the last quarter. Norges Bank bought a new stake in Nomad Foods in the fourth quarter valued at $25,286,000. Vanguard Group Inc. raised its stake in Nomad Foods by 628.5% during the first quarter. Vanguard Group Inc. now owns 889,467 shares of the company’s stock worth $17,398,000 after acquiring an additional 767,366 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Nomad Foods by 157.6% in the 4th quarter. Russell Investments Group Ltd. now owns 1,183,801 shares of the company’s stock valued at $20,065,000 after purchasing an additional 724,232 shares in the last quarter. Finally, Townsend & Associates Inc grew its holdings in shares of Nomad Foods by 102.1% in the 4th quarter. Townsend & Associates Inc now owns 1,402,280 shares of the company’s stock worth $24,273,000 after purchasing an additional 708,489 shares during the last quarter. 75.26% of the stock is owned by institutional investors.

About Nomad Foods

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.