Nomad Foods (NYSE:NOMD) Shares Cross Below Fifty Day Moving Average of $18.89

Nomad Foods Limited (NYSE:NOMD)’s stock price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $18.89 and traded as low as $18.23. Nomad Foods shares last traded at $18.56, with a volume of 304,831 shares trading hands.

Analyst Ratings Changes

Separately, Barclays raised their price objective on Nomad Foods from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd.

Nomad Foods Price Performance

The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 15.09 and a beta of 0.75. The company has a current ratio of 1.13, a quick ratio of 0.70 and a debt-to-equity ratio of 0.82. The stock has a 50-day simple moving average of $18.89 and a 200 day simple moving average of $17.13.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Nomad Foods had a return on equity of 10.41% and a net margin of 6.34%. The firm had revenue of $761.00 million during the quarter, compared to analyst estimates of $766.56 million. During the same period last year, the company posted $0.34 EPS. On average, equities research analysts forecast that Nomad Foods Limited will post 1.91 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Thursday, February 8th. Nomad Foods’s dividend payout ratio (DPR) is presently 48.78%.

Institutional Investors Weigh In On Nomad Foods

A number of hedge funds and other institutional investors have recently made changes to their positions in NOMD. Parkside Financial Bank & Trust purchased a new stake in shares of Nomad Foods during the 4th quarter worth about $26,000. Quarry LP purchased a new stake in shares of Nomad Foods during the 4th quarter worth about $26,000. NBC Securities Inc. purchased a new stake in shares of Nomad Foods during the 3rd quarter worth about $31,000. Lazard Asset Management LLC raised its stake in shares of Nomad Foods by 117.5% during the 4th quarter. Lazard Asset Management LLC now owns 1,897 shares of the company’s stock worth $32,000 after purchasing an additional 1,025 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Nomad Foods by 745.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,882 shares of the company’s stock worth $59,000 after purchasing an additional 3,423 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.