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

Seneca Foods (NASDAQ:SENEA) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

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

SENEA 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. The firm has a market capitalization of $319.62 million, a price-to-earnings ratio of 15.36 and a beta of 0.76. The company has a quick ratio of 0.62, a current ratio of 3.47 and a debt-to-equity ratio of 0.69. Seneca Foods has a 1-year low of $21.97 and a 1-year high of $41.88. The stock has a 50 day moving average of $35.62 and a two-hundred day moving average of $36.15.

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

In other Seneca Foods news, Chairman Arthur S. Wolcott bought 1,000 shares of Seneca Foods stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $39.10 per share, for a total transaction of $39,100.00. Following the completion of the acquisition, the chairman now directly owns 10,551 shares of the company’s stock, valued at $412,544.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Seneca Foods in the third quarter worth $26,000. New York State Teachers Retirement System increased its stake in shares of Seneca Foods by 30.2% in the fourth quarter. New York State Teachers Retirement System now owns 3,887 shares of the company’s stock worth $159,000 after acquiring an additional 901 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Seneca Foods in the fourth quarter worth $167,000. Carnegie Capital Asset Management LLC acquired a new position in shares of Seneca Foods in the fourth quarter worth $224,000. Finally, Pacer Advisors Inc. acquired a new position in shares of Seneca Foods in the fourth quarter worth $233,000. Institutional investors own 50.94% of the company’s stock.

Seneca Foods Company Profile

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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