Seneca Foods (NASDAQ:SENEA) Sees Strong Trading Volume – Still a Buy?

Seneca Foods Corp. (NASDAQ:SENEA) saw strong trading volume on Friday . 126,272 shares were traded during trading, an increase of 30% from the previous session’s volume of 96,939 shares.The stock last traded at $162.2810 and had previously closed at $149.21.

Analyst Ratings Changes

SENEA has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Seneca Foods from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Freedom Capital upgraded shares of Seneca Foods to a “strong-buy” rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Seneca Foods in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat, Seneca Foods currently has an average rating of “Strong Buy”.

Seneca Foods Stock Performance

The stock has a market capitalization of $1.19 billion, a PE ratio of 10.56 and a beta of -0.03. The company has a quick ratio of 0.72, a current ratio of 4.34 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average price of $145.28 and a 200-day moving average price of $131.82.

Institutional Trading of Seneca Foods

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its stake in shares of Seneca Foods by 22.6% in the first quarter. Royal Bank of Canada now owns 429 shares of the company’s stock worth $65,000 after acquiring an additional 79 shares during the period. Ballentine Partners LLC increased its stake in shares of Seneca Foods by 3.2% in the fourth quarter. Ballentine Partners LLC now owns 2,862 shares of the company’s stock worth $317,000 after acquiring an additional 89 shares during the period. Van ECK Associates Corp increased its stake in shares of Seneca Foods by 11.0% in the fourth quarter. Van ECK Associates Corp now owns 908 shares of the company’s stock worth $100,000 after acquiring an additional 90 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Seneca Foods by 5.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,813 shares of the company’s stock worth $250,000 after acquiring an additional 156 shares during the period. Finally, Pullen Investment Management LLC increased its stake in shares of Seneca Foods by 0.5% in the fourth quarter. Pullen Investment Management LLC now owns 33,694 shares of the company’s stock worth $3,728,000 after acquiring an additional 168 shares during the period. Institutional investors and hedge funds own 42.51% of the company’s stock.

About Seneca Foods

Seneca Foods Corporation is a leading producer and distributor of shelf-stable fruits, vegetables and fruit?based products. The company’s core activities include the processing, packaging and sale of canned fruits and vegetables, natural fruit juices, apple sauces and fruit?based snacks. Seneca Foods caters to both retail and foodservice markets, supplying national and international grocers, restaurant chains and food manufacturers with branded and private?label products.

Seneca Foods operates a network of manufacturing facilities and cold storage warehouses across North America, with key processing plants in New York, Michigan, California and Canada.