Seneca Foods (NASDAQ:SENEA) Downgraded to Buy at BidaskClub

BidaskClub cut shares of Seneca Foods (NASDAQ:SENEA) from a strong-buy rating to a buy rating in a research report released on Saturday, BidAskClub reports.

SENEA stock traded down $4.57 during trading on Friday, reaching $25.43. The stock had a trading volume of 37,841 shares, compared to its average volume of 12,559. Seneca Foods has a one year low of $21.97 and a one year high of $35.90. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.90 and a current ratio of 3.91. The stock has a 50 day moving average price of $28.72.

Seneca Foods (NASDAQ:SENEA) last released its earnings results on Thursday, June 13th. The company reported ($0.14) earnings per share for the quarter. The company had revenue of $262.59 million during the quarter. Seneca Foods had a net margin of 1.28% and a negative return on equity of 6.09%.

Several hedge funds have recently made changes to their positions in SENEA. Northern Trust Corp lifted its position in shares of Seneca Foods by 3.8% in the fourth quarter. Northern Trust Corp now owns 91,279 shares of the company’s stock worth $2,576,000 after buying an additional 3,319 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Seneca Foods by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 74,602 shares of the company’s stock worth $2,105,000 after buying an additional 4,083 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Seneca Foods by 81.8% in the fourth quarter. Bank of America Corp DE now owns 10,265 shares of the company’s stock worth $290,000 after buying an additional 4,618 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Seneca Foods in the fourth quarter worth about $101,000. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in shares of Seneca Foods in the fourth quarter worth about $74,000. Institutional investors own 49.00% of the company’s stock.

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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