Nomad Foods Limited (NYSE:NOMD – Get Rating) was the target of a large decline in short interest in April. As of April 30th, there was short interest totalling 2,000,000 shares, a decline of 18.4% from the April 15th total of 2,450,000 shares. Based on an average trading volume of 1,140,000 shares, the short-interest ratio is currently 1.8 days. Approximately 1.4% of the company’s stock are sold short.
Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Nomad Foods from $25.00 to $26.00 in a report on Thursday, May 12th. UBS Group initiated coverage on shares of Nomad Foods in a research note on Wednesday, March 30th. They issued a “buy” rating and a $26.00 price objective for the company. Jefferies Financial Group cut their target price on shares of Nomad Foods from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, March 30th. StockNews.com initiated coverage on shares of Nomad Foods in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, BTIG Research cut their target price on shares of Nomad Foods from $32.00 to $25.00 in a research report on Friday, May 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $27.44.
Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in shares of Nomad Foods by 10.7% during the first quarter. Wellington Management Group LLP now owns 15,574,393 shares of the company’s stock worth $351,670,000 after purchasing an additional 1,501,225 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Nomad Foods during the fourth quarter worth approximately $251,341,000. Boston Partners lifted its position in shares of Nomad Foods by 2.1% during the first quarter. Boston Partners now owns 7,057,024 shares of the company’s stock worth $159,201,000 after purchasing an additional 141,789 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Nomad Foods by 7.2% during the fourth quarter. Alliancebernstein L.P. now owns 6,672,664 shares of the company’s stock worth $169,419,000 after purchasing an additional 450,124 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Nomad Foods by 5.6% during the first quarter. Brown Advisory Inc. now owns 5,642,102 shares of the company’s stock worth $129,120,000 after purchasing an additional 297,891 shares in the last quarter. 78.08% of the stock is currently owned by hedge funds and other institutional investors.
Nomad Foods stock traded down $0.25 during trading hours on Thursday, hitting $20.24. 1,124 shares of the stock were exchanged, compared to its average volume of 1,334,460. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.57 and a current ratio of 1.00. The stock has a market capitalization of $3.49 billion, a P/E ratio of 16.66 and a beta of 0.73. Nomad Foods has a 12 month low of $17.30 and a 12 month high of $31.85. The business’s 50-day moving average is $20.59 and its two-hundred day moving average is $23.55.
Nomad Foods (NYSE:NOMD – Get Rating) last issued its quarterly earnings data on Wednesday, May 11th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. Nomad Foods had a net margin of 7.16% and a return on equity of 11.55%. During the same quarter in the previous year, the business earned $0.56 EPS. On average, equities analysts predict that Nomad Foods will post 1.82 earnings per share for the current fiscal year.
About Nomad Foods (Get Rating)
Nomad Foods Limited manufactures, markets, and distributes frozen food products in the United Kingdom, Italy, Germany, France, Sweden, Austria, Norway, Spain, and rest of Europe. The company offers fish products, including fish fingers, coated fish, and natural fish; vegetables, such as peas and spinach; and poultry and meat products comprising nuggets, grills, and burgers.
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