Wall Street Zen Upgrades Seneca Foods (NASDAQ:SENEA) to Strong-Buy

Seneca Foods (NASDAQ:SENEA) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Seneca Foods in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Seneca Foods Trading Down 1.2%

NASDAQ:SENEA opened at $115.64 on Friday. Seneca Foods has a 1 year low of $70.98 and a 1 year high of $129.03. The stock has a market cap of $790.98 million, a price-to-earnings ratio of 13.42 and a beta of 0.13. The business has a fifty day moving average of $115.09 and a 200-day moving average of $110.80. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 2.59.

Hedge Funds Weigh In On Seneca Foods

A number of hedge funds and other institutional investors have recently modified their holdings of SENEA. Teacher Retirement System of Texas increased its position in shares of Seneca Foods by 35.1% in the second quarter. Teacher Retirement System of Texas now owns 3,119 shares of the company’s stock worth $316,000 after acquiring an additional 811 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Seneca Foods by 172.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 28,599 shares of the company’s stock valued at $3,087,000 after acquiring an additional 18,112 shares in the last quarter. American Century Companies Inc. boosted its stake in Seneca Foods by 69.5% in the 2nd quarter. American Century Companies Inc. now owns 120,247 shares of the company’s stock worth $12,197,000 after purchasing an additional 49,318 shares during the period. Ballentine Partners LLC purchased a new position in Seneca Foods during the 2nd quarter worth approximately $270,000. Finally, Ritholtz Wealth Management acquired a new stake in Seneca Foods during the 2nd quarter valued at $787,000. Institutional investors and hedge funds own 42.51% of the company’s stock.

About Seneca Foods

Seneca Foods Corporation is a leading producer and distributor of shelf-stable fruits, vegetables and fruit‐based products. The company’s core activities include the processing, packaging and sale of canned fruits and vegetables, natural fruit juices, apple sauces and fruit‐based snacks. Seneca Foods caters to both retail and foodservice markets, supplying national and international grocers, restaurant chains and food manufacturers with branded and private‐label products.

Seneca Foods operates a network of manufacturing facilities and cold storage warehouses across North America, with key processing plants in New York, Michigan, California and Canada.