Seneca Foods (NASDAQ:SENEA) Lifted to “Strong-Buy” at BidaskClub

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BidaskClub 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, BidAskClub reports.

NASDAQ SENEA opened at $29.16 on Friday. The stock has a 50-day moving average of $28.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.90 and a current ratio of 5.37. Seneca Foods has a 52 week low of $21.97 and a 52 week high of $35.90.

Seneca Foods (NASDAQ:SENEA) last posted its quarterly earnings data on Thursday, June 13th. The company reported ($0.14) EPS for the quarter. Seneca Foods had a negative return on equity of 9.55% and a net margin of 0.44%. The company had revenue of $262.59 million during the quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in shares of Seneca Foods by 608.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,501 shares of the company’s stock worth $37,000 after buying an additional 1,289 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in shares of Seneca Foods in the fourth quarter worth about $54,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Seneca Foods in the fourth quarter worth about $74,000. MetLife Investment Advisors LLC bought a new position in shares of Seneca Foods in the fourth quarter worth about $101,000. Finally, KBC Group NV raised its stake in shares of Seneca Foods by 15.7% in the second quarter. KBC Group NV now owns 7,638 shares of the company’s stock worth $213,000 after buying an additional 1,036 shares during the period. 49.00% of the stock is currently owned by hedge funds and other institutional investors.

About Seneca Foods

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. It offers canned, frozen, and bottled produce; and snack chips and other food products under the private label, as well as under various national and regional brands that the company owns or licenses, including Seneca, Libby's, Aunt Nellie's, READ, Green Valley, Cherryman, and Seneca Farms.

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