Seneca Foods (NASDAQ:SENEA) Hits New 52-Week High After Analyst Upgrade

Shares of Seneca Foods Corp. (NASDAQ:SENEA) hit a new 52-week high during mid-day trading on Saturday after Wall Street Zen upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $176.09 and last traded at $175.37, with a volume of 537947 shares changing hands. The stock had previously closed at $149.21.

SENEA has been the topic of several other research reports. Freedom Capital upgraded Seneca Foods to a “strong-buy” rating in a research report on Wednesday, May 20th. Weiss Ratings restated a “buy (b)” rating on shares of Seneca Foods in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Institutional Investors Weigh In On Seneca Foods

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Seneca Foods by 10.0% in the 3rd quarter. Vanguard Group Inc. now owns 351,033 shares of the company’s stock worth $37,891,000 after acquiring an additional 31,873 shares during the period. American Century Companies Inc. grew its holdings in shares of Seneca Foods by 29.5% in the 3rd quarter. American Century Companies Inc. now owns 155,727 shares of the company’s stock worth $16,809,000 after acquiring an additional 35,480 shares during the period. Geode Capital Management LLC grew its holdings in shares of Seneca Foods by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 138,182 shares of the company’s stock worth $15,289,000 after acquiring an additional 516 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Seneca Foods by 12.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,203 shares of the company’s stock worth $12,192,000 after acquiring an additional 12,409 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Seneca Foods by 31.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 61,222 shares of the company’s stock worth $6,608,000 after acquiring an additional 14,721 shares during the period. Institutional investors and hedge funds own 42.51% of the company’s stock.

Seneca Foods Trading Up 17.5%

The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 10.56 and a beta of -0.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.72 and a current ratio of 4.34. The business has a fifty day moving average of $145.28 and a two-hundred day moving average of $131.82.

Seneca Foods Company Profile

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.