Nomad Foods (NYSE:NOMD) Stock Crosses Below Fifty Day Moving Average – Should You Sell?
by Mitch Edgeman · The Markets DailyNomad Foods Limited (NYSE:NOMD – Get Free Report) crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $11.46 and traded as low as $10.25. Nomad Foods shares last traded at $10.8220, with a volume of 2,046,614 shares changing hands.
Wall Street Analyst Weigh In
A number of research firms have weighed in on NOMD. Zacks Research lowered shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a research note on Tuesday. BTIG Research reiterated a “buy” rating and set a $15.00 price target on shares of Nomad Foods in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $11.00 price objective on shares of Nomad Foods in a research note on Tuesday, July 21st. Finally, Barclays increased their price objective on Nomad Foods from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Nomad Foods presently has an average rating of “Hold” and a consensus price target of $13.25.
Get Our Latest Stock Analysis on Nomad Foods
Nomad Foods Trading Down 1.6%
The stock has a market cap of $1.49 billion, a P/E ratio of 10.43 and a beta of 0.75. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.66 and a current ratio of 1.10. The firm’s fifty day simple moving average is $11.44 and its 200-day simple moving average is $10.66.
Nomad Foods (NYSE:NOMD – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. Nomad Foods had a net margin of 4.20% and a return on equity of 8.88%. The company had revenue of $825.94 million during the quarter, compared to analysts’ expectations of $825.02 million. During the same period in the prior year, the company posted $0.40 earnings per share. Nomad Foods’s revenue for the quarter was down 3.1% compared to the same quarter last year. Nomad Foods has set its FY 2026 guidance at 1.604-1.779 EPS. Equities research analysts expect that Nomad Foods Limited will post 1.63 EPS for the current fiscal year.
Nomad Foods Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Tuesday, August 11th. Nomad Foods’s payout ratio is currently 66.67%.
Insider Activity
In other Nomad Foods news, CEO Dominic Brisby bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price of $12.38 per share, with a total value of $619,000.00. Following the completion of the purchase, the chief executive officer directly owned 726,794 shares of the company’s stock, valued at approximately $8,997,709.72. This trade represents a 7.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ruben Baldew purchased 28,290 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was acquired at an average cost of $11.85 per share, for a total transaction of $335,236.50. Following the completion of the purchase, the chief financial officer owned 367,172 shares of the company’s stock, valued at approximately $4,350,988.20. This trade represents a 8.35% increase in their position. The SEC filing for this purchase provides additional information. 17.27% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Nomad Foods
A number of hedge funds have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new stake in Nomad Foods in the 4th quarter valued at $955,000. PYA Waltman Capital LLC grew its holdings in shares of Nomad Foods by 58.8% during the fourth quarter. PYA Waltman Capital LLC now owns 433,979 shares of the company’s stock valued at $5,429,000 after buying an additional 160,728 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Nomad Foods by 68.6% during the first quarter. Sei Investments Co. now owns 518,813 shares of the company’s stock valued at $4,986,000 after buying an additional 211,183 shares during the last quarter. Invenomic Capital Management LP increased its position in shares of Nomad Foods by 75.9% during the fourth quarter. Invenomic Capital Management LP now owns 1,675,263 shares of the company’s stock worth $20,958,000 after acquiring an additional 722,995 shares in the last quarter. Finally, Endure Capital Management LLC bought a new stake in shares of Nomad Foods during the first quarter worth about $4,236,000. Institutional investors and hedge funds own 75.26% of the company’s stock.
Nomad Foods Company Profile
Nomad Foods Ltd. is a European food company focused on frozen foods. Its portfolio includes frozen fish, vegetables, poultry, potato products, meals, and desserts sold through grocery retailers and other food channels.
The company markets products under several established brands, including Birds Eye in the United Kingdom and Ireland, iglo in Germany and other European markets, Findus in parts of continental Europe, Aunt Bessie’s in the United Kingdom, and Goodfella’s frozen pizza in selected markets.