Nomad Foods (NYSE:NOMD) Hits New 52-Week High Following Dividend Announcement

Shares of Nomad Foods Limited (NYSE:NOMD) reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $20.00 and last traded at $19.98, with a volume of 893367 shares trading hands. The stock had previously closed at $19.58.

The newly announced dividend which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 12th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.40%. Nomad Foods’s payout ratio is 45.03%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com downgraded Nomad Foods from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 25th. Mizuho increased their price objective on Nomad Foods from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Finally, Barclays boosted their target price on Nomad Foods from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd.

Nomad Foods Trading Up 2.0 %

The business’s 50-day moving average price is $19.50 and its 200-day moving average price is $18.07. The firm has a market capitalization of $3.06 billion, a PE ratio of 15.02 and a beta of 0.83. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72.

Institutional Investors Weigh In On Nomad Foods

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Brown Advisory Inc. raised its stake in Nomad Foods by 0.8% during the 1st quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company’s stock valued at $165,890,000 after acquiring an additional 66,060 shares during the last quarter. Alliancebernstein L.P. grew its position in Nomad Foods by 2.5% in the 4th quarter. Alliancebernstein L.P. now owns 7,708,354 shares of the company’s stock valued at $129,346,000 after buying an additional 187,146 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Nomad Foods by 3.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,824,222 shares of the company’s stock valued at $134,096,000 after buying an additional 254,314 shares during the period. T. Rowe Price Investment Management Inc. raised its position in Nomad Foods by 2.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,176,211 shares of the company’s stock worth $70,077,000 after buying an additional 86,897 shares during the last quarter. Finally, River Road Asset Management LLC lifted its stake in shares of Nomad Foods by 0.6% in the 4th quarter. River Road Asset Management LLC now owns 4,044,438 shares of the company’s stock worth $67,866,000 after acquiring an additional 24,775 shares during the period. 75.26% of the stock is owned by hedge funds and other institutional investors.

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.