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Double Buy Signal Issued for H. J. Heinz Co.

Use a limit order to buy HNZ on a pullback


H. J. Heinz Company (NYSE:HNZ) — This global food producer 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 $3.52. Q1 earnings beat analysts’ estimates by 4.8%.

A recent double buy signal from our proprietary indicator, the Collins-Bollinger Reversal (CBR), and better-than-expected Q1 earnings popped the stock to $57.50, but sharp buyers may be able to purchase the stock at $56, which is where we would place a limit order. HNZ has a dividend yield of 3.7% and has a history of increasing dividends.

Trade of the Day – H. J. Heinz Company (NYSE:HNZ)
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Trade of the Day Chart Key

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