Nomad Foods (NYSE:NOMD) Shares Pass Below 50-Day Moving Average of $18.05

Nomad Foods Limited (NYSE:NOMDGet Free Report)’s stock price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $18.05 and traded as low as $16.53. Nomad Foods shares last traded at $16.63, with a volume of 614,910 shares changing hands.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Analysis on NOMD

Nomad Foods Price Performance

The company’s 50-day moving average price is $17.97 and its two-hundred day moving average price is $18.03. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.14 and a quick ratio of 0.73. The company has a market capitalization of $2.71 billion, a P/E ratio of 13.87 and a beta of 0.79.

Nomad Foods (NYSE:NOMDGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). The company had revenue of $850.90 million during the quarter, compared to the consensus estimate of $858.61 million. Nomad Foods had a net margin of 6.10% and a return on equity of 9.68%. As a group, sell-side analysts expect that Nomad Foods Limited will post 1.9 EPS for the current year.

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Thursday, May 9th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Wednesday, May 8th. Nomad Foods’s dividend payout ratio is currently 50.00%.

Institutional Investors Weigh In On Nomad Foods

Several institutional investors have recently made changes to their positions in the stock. Boston Partners raised its position in shares of Nomad Foods by 18.8% in the 1st quarter. Boston Partners now owns 8,563,043 shares of the company’s stock valued at $167,241,000 after buying an additional 1,356,159 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Nomad Foods by 1.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,075,953 shares of the company’s stock valued at $69,087,000 after purchasing an additional 60,673 shares during the last quarter. Polaris Capital Management LLC lifted its position in shares of Nomad Foods by 24.5% during the 4th quarter. Polaris Capital Management LLC now owns 3,397,400 shares of the company’s stock worth $57,586,000 after buying an additional 668,100 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Nomad Foods by 13.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,698,163 shares of the company’s stock valued at $28,784,000 after buying an additional 195,485 shares in the last quarter. Finally, Norges Bank bought a new position in Nomad Foods in the fourth quarter valued at about $25,286,000. 75.26% of the stock is currently owned by institutional investors.

About Nomad Foods

(Get Free Report)

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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