Gabelli & Company Maintains Hold Rating on HJ Heinz

A report from Gabelli & Company reiterates its Hold rating on HJ Heinz (NYSE: HNZ).

The report states, “Looking ahead, growth initiatives, such as new products, favorable price/mix, more efficient spending on discounts & allowances in Europe and acquisitions will drive top-line results, while productivity savings and pricing should offset the majority of raw material costs; however HNZ is again spending an additional $0.08/share behind project Keystone.”

HNZ closed Friday at $51.07.