Seneca Foods (NASDAQ:SENEA) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Seneca Foods (NASDAQ:SENEA) from a sell rating to a hold rating in a research note released on Thursday, ValuEngine reports.

Separately, BidaskClub upgraded shares of Seneca Foods from a sell rating to a hold rating in a research report on Friday, March 6th.

Seneca Foods stock traded up $2.57 during trading on Thursday, reaching $37.49. The stock had a trading volume of 27,057 shares, compared to its average volume of 27,726. Seneca Foods has a 52-week low of $21.97 and a 52-week high of $41.88. The business has a 50 day moving average price of $35.62 and a 200 day moving average price of $36.15. The company has a quick ratio of 0.62, a current ratio of 3.47 and a debt-to-equity ratio of 0.69. The stock has a market cap of $319.62 million, a PE ratio of 15.36 and a beta of 0.76.

Seneca Foods (NASDAQ:SENEA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter. Seneca Foods had a net margin of 1.74% and a return on equity of 7.04%. The company had revenue of $392.97 million during the quarter.

In related news, Chairman Arthur S. Wolcott acquired 1,000 shares of Seneca Foods stock in a transaction dated Monday, February 10th. The stock was acquired at an average price of $39.10 per share, for a total transaction of $39,100.00. Following the transaction, the chairman now owns 10,551 shares of the company’s stock, valued at $412,544.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.90% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in SENEA. Renaissance Technologies LLC raised its position in Seneca Foods by 54.8% in the 4th quarter. Renaissance Technologies LLC now owns 122,100 shares of the company’s stock valued at $4,980,000 after purchasing an additional 43,200 shares during the last quarter. Panagora Asset Management Inc. raised its position in Seneca Foods by 170.9% in the 4th quarter. Panagora Asset Management Inc. now owns 30,004 shares of the company’s stock valued at $1,222,000 after purchasing an additional 18,929 shares during the last quarter. State Street Corp raised its position in Seneca Foods by 7.2% in the 4th quarter. State Street Corp now owns 210,936 shares of the company’s stock valued at $8,604,000 after purchasing an additional 14,221 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Seneca Foods in the 4th quarter valued at $546,000. Finally, Mackay Shields LLC increased its stake in Seneca Foods by 48.9% in the 4th quarter. Mackay Shields LLC now owns 36,867 shares of the company’s stock valued at $1,504,000 after buying an additional 12,100 shares during the period. Hedge funds and other institutional investors own 50.94% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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