Nomad Foods (NYSE:NOMD) Shares Gap Up – What’s Next?

Shares of Nomad Foods Limited (NYSE:NOMD) gapped up prior to trading on Thursday . The stock had previously closed at $16.25, but opened at $17.48. Nomad Foods shares last traded at $17.44, with a volume of 29,899 shares traded.

Analyst Ratings Changes

A number of brokerages have commented on NOMD. Barclays reduced their price objective on Nomad Foods from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, StockNews.com downgraded Nomad Foods from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th.

Nomad Foods Stock Performance

The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average price of $18.24 and a 200-day moving average price of $17.99. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 12.99 and a beta of 0.79.

Nomad Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Friday, November 8th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.49%. Nomad Foods’s payout ratio is presently 44.44%.

Hedge Funds Weigh In On Nomad Foods

A number of hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its position in Nomad Foods by 133.2% in the 2nd quarter. Blue Trust Inc. now owns 1,635 shares of the company’s stock valued at $27,000 after purchasing an additional 934 shares during the last quarter. Headlands Technologies LLC bought a new position in Nomad Foods in the 2nd quarter valued at $42,000. National Bank of Canada FI raised its position in Nomad Foods by 378.4% in the 2nd quarter. National Bank of Canada FI now owns 2,775 shares of the company’s stock valued at $46,000 after purchasing an additional 2,195 shares during the last quarter. Quarry LP raised its position in 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 purchasing an additional 2,360 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in Nomad Foods by 25.8% in the 3rd quarter. Avior Wealth Management LLC now owns 3,920 shares of the company’s stock valued at $75,000 after purchasing an additional 804 shares during the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

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.