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

Nomad Foods Limited (NYSE:NOMD) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 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.

Analysts Set New Price Targets

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

Nomad Foods Trading Up 1.1 %

The company has a market cap of $3.02 billion, a P/E ratio of 15.09 and a beta of 0.75. The company has a quick ratio of 0.70, a current ratio of 1.13 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average price of $18.89 and a two-hundred day moving average price of $17.13.

Nomad Foods (NYSE:NOMD) last released its earnings results on Thursday, February 29th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $761.00 million during the quarter, compared to the consensus estimate of $766.56 million. Nomad Foods had a return on equity of 10.41% and a net margin of 6.34%. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, analysts predict that Nomad Foods Limited will post 1.91 EPS for the current year.

Nomad Foods Announces Dividend

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

Institutional Investors Weigh In On Nomad Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust bought a new stake in Nomad Foods in the fourth quarter valued at about $26,000. Quarry LP bought a new stake in Nomad Foods in the fourth quarter valued at about $26,000. NBC Securities Inc. bought a new stake in Nomad Foods in the third quarter valued at about $31,000. Lazard Asset Management LLC increased its holdings in Nomad Foods by 117.5% in the fourth quarter. Lazard Asset Management LLC now owns 1,897 shares of the company’s stock valued at $32,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Nomad Foods by 745.8% in the third quarter. Exchange Traded Concepts LLC now owns 3,882 shares of the company’s stock valued at $59,000 after purchasing an additional 3,423 shares during the last quarter. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Company Profile

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.