Top Stock to Buy #4 – H. J. Heinz Company (HNZ)
H. J. Heinz Company (NYSE:HNZ), a global producer of a wide variety of food products, has a new, more aggressive corporate strategy. Acquisitions in emerging markets began two years ago, and in 2011, that new direction accounted for 16% of total sales.
Earnings for FY 2012 (ended in April) were $2.85, and the consensus for FY 2013 is $3.50, with $3.75 expected in FY 2014.
A recent double buy signal from our Collins-Bollinger Reversal (CBR) indicator tells us to buy now for a break above the current bull channel and a run to $62. HNZ has a 3.7% dividend yield, and the company has a history of increasing dividends.