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InvestorGuide Stock Analysis

Heinz Reports Increase in Second Quarter Profits
Excerpt from the InvestorGuide.com Stock of the Day on 11/21/2008

The H.J. Heinz Company (HNZ: Charts, News, Offers), the maker of ketchup, posted a 22% increase in profit for this year's second quarter. The Pittsburgh-based food company recorded a total profit of $276.7 million, as compared to last year's $227 million. The firm also managed to increase its revenue 4% to $2.61 billion dollars. Heinz surprised a lot of analysts with its strong second quarter performance, and seems confident in its ability to maintain this success. Exactly how did this food company produce such impressive results amongst the recent economic turmoil?

The H.J. Heinz Company made a few strategic moves that really paid big dividends for its profit margin. First, Heinz implemented a currency hedging initiative that resulted in a $92 million pretax gain. In addition, the company increased the prices of all its main product offerings in an attempt to compensate for escalating ingredient costs. The price increase allowed Heinz to avoid absorbing the rising production costs of its main products, which in turn increased its profit margins. However, ironically enough, the ketchup producer's impressive second quarter results were also sparked by the struggling economy. More >

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Morningstar Analysis for H.J. Heinz Company

H.J. Heinz Company (HNZ) Upgrades

Date
Analyst
Old Rating
New Rating
03/28/2008
Sanford C. Bernstein
Market Perform
Outperform
02/15/2008
Merrill Lynch
Neutral
Buy
06/03/2007
Davenport
Neutral
Buy
06/02/2007
Davenport
Neutral
Buy
06/01/2007
Davenport
Neutral
Buy
05/24/2007
Citigroup
Hold
Buy

H.J. Heinz Company (HNZ) Downgrades

Date
Analyst
Old Rating
New Rating
11/24/2008
Davenport
Buy
Neutral
10/10/2008
Deutsche Bank
Buy
Hold
05/22/2008
Merrill Lynch
Buy
Neutral
05/19/2006
Banc of America
Neutral
Buy
03/01/2006
Prudential Equity
Underweight
Neutral Weight

H.J. Heinz Company (HNZ) New Coverage

Date
Analyst
Rating
09/03/2008
Soleil Securities
Buy
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Competitor Analysis

Hormel Foods
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