Nomad Foods Limited (NYSE:NOMD) Short Interest Down 24.0% in November

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

Analysts Set New Price Targets

Several research analysts have recently commented on NOMD shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, November 4th. StockNews.com raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 18th.

Nomad Foods Stock Up 1.2 %

Shares of NOMD traded up $0.22 during midday trading on Friday, hitting $18.31. The company had a trading volume of 532,819 shares, compared to its average volume of 974,331. The company’s 50-day simple moving average is $17.77 and its 200-day simple moving average is $17.92. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.20. Nomad Foods has a 1 year low of $15.76 and a 1 year high of $20.05. The firm has a market capitalization of $2.98 billion, a P/E ratio of 13.77 and a beta of 0.79.

Nomad Foods Announces Dividend

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

Institutional Investors Weigh In On Nomad Foods

Large investors have recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of Nomad Foods by 133.2% during the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock worth $27,000 after acquiring an additional 934 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Nomad Foods by 61.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,100 shares of the company’s stock valued at $40,000 after purchasing an additional 800 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Nomad Foods during the second quarter worth approximately $42,000. National Bank of Canada FI lifted its position in shares of Nomad Foods by 378.4% during the 2nd quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock worth $46,000 after buying an additional 2,195 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Nomad Foods by 366.5% in the 2nd quarter. Quarry LP now owns 3,004 shares of the company’s stock valued at $50,000 after buying an additional 2,360 shares in the last quarter. 75.26% of the stock is owned by hedge funds and other 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.