Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

NEW YORK ( TheStreet) -- HJ Heinz Company (NYSE: HNZ) hit a new 52-week high Friday as it is currently trading at $56.03, above its previous 52-week high of $56 with 684,798 shares traded as of 12:55 p.m. ET. Average volume has been two million shares over the past 30 days.

HJ Heinz has a market cap of $17.7 billion and is part of the consumer goods sector and food & beverage industry. Shares are up 2.7% year to date as of the close of trading on Thursday.

H. J. Heinz Company, together with its subsidiaries, manufactures and markets food products for consumers, and foodservice and institutional customers in North America, Europe, the Asia Pacific, and internationally. The company has a P/E ratio of 19.5, equal to the average food & beverage industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates HJ Heinz as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full HJ Heinz Ratings Report.

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