5 Best Dividend Stocks Yielding at Least 7% According to Hedge Funds

4. Nomad Foods Limited (NYSE:NOMD)

Number of Hedge Fund Holders: 32

Dividend Yield as of April 25: 7.13%

On April 14, Barclays lowered its price recommendation on Nomad Foods Limited (NYSE:NOMD) to $12 from $13. It reiterated an Overweight rating on the shares. The change came as part of a broader Q1 preview across the consumer staples group. The firm said it is showing “growing caution” on the sector heading into earnings, mainly due to higher input costs. In food, the analyst also pointed to “building concerns” around the sustainability of dividends for some companies.

On March 30, Deutsche Bank analyst Steve Powers downgraded Nomad Foods to Hold from Buy and lowered the price target to $10 from $15. The firm said the Iran conflict is creating cost pressure on oil and energy-linked inputs. It also flagged potential demand headwinds tied to weaker consumer sentiment in Europe. The analyst added that the company has limited pricing power and faces trade-down risk.

Nomad Foods Limited (NYSE:NOMD) operates as a frozen food company with a portfolio of well-known brands. Its brands include Birds Eye, Findus, iglo, Ledo, and Frikom. The company offers a range of frozen products across categories such as fish, vegetables, poultry, meals, pizza, and ice cream.