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Jefferies Boosts Target, Adjusts Estimates for H.J. Heinz (HNZ)

By Dividend.com,  September 06, 2012, 09:26:01 AM EDT

Condiments maker H.J. Heinz Company ( HNZ ) on Thursday caught some mixed commentary from analysts at Jefferies & Co.

The firm reiterated its "Hold" rating on HNZ and lifted its price target from $56 to $57. That new target suggests a small upside to the stock's Wednesday closing price of $55.49.

A Jefferies analyst commented, "Following earnings last week we are updating our model for HNZ. Even though the company beat our expectations, mostly due to better than assumed taxes and margins, we are lowering our FY13 adj. EPS forecast to $3.46 from $3.48 due to a more cautious FX outlook (the organic sales growth assumption is unchanged), partially offset by a 20bps better adj. EBIT margin assumption."

H.J. Heinz shares were mostly flat in premarket trading Thursday.

The Bottom Line
We have been recommending shares of H.J. Heinz ( HNZ ) since Jan.24, 2009, when the stock was trading at $35.06. The company has a 3.71% dividend yield, based on last night's closing stock price of $55.49.

H.J. Heinz Company ( HNZ ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: HNZ



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