Nomad Foods (NYSE:NOMD) Shares Gap Up - Time to Buy?

Nomad Foods Limited (NYSE:NOMD - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $16.25, but opened at $17.48. Nomad Foods shares last traded at $17.44, with a volume of 29,899 shares.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOMD. Barclays dropped their price target on Nomad Foods from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Friday, July 19th. StockNews.com downgraded shares of Nomad Foods from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nomad Foods from $25.00 to $23.00 and set a "buy" rating for the company in a report on Monday, November 4th.

Nomad Foods Stock Performance

The company has a fifty day moving average price of $18.24 and a 200 day moving average price of $17.99. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.73. The stock has a market cap of $2.74 billion, a P/E ratio of 12.28 and a beta of 0.79.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 8th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 3.57%. Nomad Foods's dividend payout ratio (DPR) is currently 44.44%.

Hedge Funds Weigh In On Nomad Foods

A number of hedge funds have recently bought and sold shares of NOMD. Janney Montgomery Scott LLC raised its stake in Nomad Foods by 21.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 64,614 shares of the company's stock valued at $1,264,000 after acquiring an additional 11,246 shares during the period. Russell Investments Group Ltd. boosted its holdings in Nomad Foods by 16.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,377,332 shares of the company's stock worth $26,941,000 after buying an additional 193,531 shares during the period. Vanguard Group Inc. grew its stake in Nomad Foods by 628.5% in the 1st quarter. Vanguard Group Inc. now owns 889,467 shares of the company's stock valued at $17,398,000 after buying an additional 767,366 shares in the last quarter. PYA Waltman Capital LLC raised its stake in shares of Nomad Foods by 6.3% during the 1st quarter. PYA Waltman Capital LLC now owns 163,510 shares of the company's stock valued at $3,198,000 after purchasing an additional 9,722 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in shares of Nomad Foods by 1.2% in the first quarter. Gabelli Funds LLC now owns 157,982 shares of the company's stock worth $3,090,000 after buying an additional 1,917 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.