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

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

Institutional Trading of Nomad Foods

A number of large investors have recently made changes to their positions in NOMD. Boston Partners boosted its holdings in Nomad Foods by 18.8% in the first quarter. Boston Partners now owns 8,563,043 shares of the company’s stock worth $167,241,000 after purchasing an additional 1,356,159 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Nomad Foods by 8.3% in the second quarter. Renaissance Technologies LLC now owns 4,179,679 shares of the company’s stock worth $68,881,000 after acquiring an additional 320,900 shares during the period. River Road Asset Management LLC increased its position in Nomad Foods by 2.9% during the third quarter. River Road Asset Management LLC now owns 4,019,663 shares of the company’s stock valued at $76,615,000 after acquiring an additional 114,750 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Nomad Foods by 0.9% in the third quarter. Victory Capital Management Inc. now owns 2,069,181 shares of the company’s stock valued at $39,439,000 after acquiring an additional 18,189 shares during the period. Finally, Wellington Management Group LLP boosted its position in Nomad Foods by 2.1% in the third quarter. Wellington Management Group LLP now owns 1,906,862 shares of the company’s stock worth $36,345,000 after purchasing an additional 39,739 shares during the last quarter. 75.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NOMD has been the subject of a number of recent research reports. StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, November 4th.

Nomad Foods Stock Performance

Shares of NOMD opened at $18.09 on Friday. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 13.60 and a beta of 0.79. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. Nomad Foods has a 12 month low of $15.76 and a 12 month high of $20.05. The business’s fifty day simple moving average is $17.80 and its two-hundred day simple moving average is $17.93.

Nomad Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 8th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Friday, November 8th. Nomad Foods’s dividend payout ratio is currently 45.11%.

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.