Seneca Foods (NASDAQ:SENEA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Seneca Foods (NASDAQ:SENEA) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other research firms also recently issued reports on SENEA. Freedom Capital downgraded shares of Seneca Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings raised shares of Seneca Foods from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Seneca Foods Price Performance

SENEA stock opened at $157.50 on Friday. The company has a market cap of $1.07 billion, a PE ratio of 9.10 and a beta of -0.03. The company has a current ratio of 3.77, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average price of $183.32 and a two-hundred day moving average price of $156.07. Seneca Foods has a 12-month low of $99.58 and a 12-month high of $210.00.

Seneca Foods (NASDAQ:SENEA) last released its quarterly earnings data on Thursday, August 6th. The company reported $2.85 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($0.07). The firm had revenue of $405.17 million during the quarter, compared to analysts’ expectations of $327.00 million. Seneca Foods had a return on equity of 14.96% and a net margin of 6.75%.

Insider Activity at Seneca Foods

In related news, VP Dean Erstad sold 1,587 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $206.16, for a total transaction of $327,175.92. Following the transaction, the vice president directly owned 609 shares of the company’s stock, valued at approximately $125,551.44. The trade was a 72.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.24% of the company’s stock.

Hedge Funds Weigh In On Seneca Foods

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC grew its position in Seneca Foods by 30.9% in the first quarter. Lazard Asset Management LLC now owns 57,470 shares of the company’s stock valued at $8,685,000 after acquiring an additional 13,564 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Seneca Foods by 8.1% during the first quarter. Empowered Funds LLC now owns 31,394 shares of the company’s stock worth $4,744,000 after purchasing an additional 2,354 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Seneca Foods by 1.9% during the first quarter. Janney Montgomery Scott LLC now owns 26,579 shares of the company’s stock worth $4,017,000 after purchasing an additional 499 shares in the last quarter. Pullen Investment Management LLC lifted its position in shares of Seneca Foods by 0.7% during the third quarter. Pullen Investment Management LLC now owns 20,242 shares of the company’s stock worth $3,603,000 after purchasing an additional 136 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Seneca Foods by 2.2% in the first quarter. First Trust Advisors LP now owns 19,039 shares of the company’s stock valued at $2,877,000 after purchasing an additional 407 shares during the period. Hedge funds and other institutional investors own 42.51% of the company’s stock.

About Seneca Foods

Seneca Foods Corporation is a U.S.-based food processor and producer of packaged fruits and vegetables. The company supplies retail, food service, industrial and government customers with canned, frozen and prepared foods, including vegetables, fruits, applesauce, snack products and ingredients.

Seneca markets products under brands including Seneca, Libby’s, Green Giant, Aunt Nellie’s, READ and CherryMan, while also producing private-label goods for retailers and other food companies. Its product portfolio includes canned and frozen vegetables, fruit products, shelf-stable meals and ingredients used by commercial food manufacturers.

Founded in 1949 and headquartered in Marion, New York, Seneca operates processing and distribution facilities primarily in the United States and sources agricultural products from North American growing regions.