Draper Asset Management LLC Acquires New Position in Seneca Foods Corp. $SENEA

Draper Asset Management LLC bought a new position in Seneca Foods Corp. (NASDAQ:SENEA) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,533 shares of the company’s stock, valued at approximately $987,000. Seneca Foods makes up about 0.6% of Draper Asset Management LLC’s portfolio, making the stock its 19th biggest holding. Draper Asset Management LLC owned about 0.10% of Seneca Foods at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SENEA. Ritholtz Wealth Management lifted its holdings in Seneca Foods by 68.6% during the first quarter. Ritholtz Wealth Management now owns 18,988 shares of the company’s stock valued at $2,869,000 after purchasing an additional 7,723 shares in the last quarter. OP Asset Management Ltd purchased a new stake in shares of Seneca Foods in the first quarter worth $695,000. Assenagon Asset Management S.A. increased its stake in shares of Seneca Foods by 13.8% in the first quarter. Assenagon Asset Management S.A. now owns 11,938 shares of the company’s stock worth $1,804,000 after purchasing an additional 1,451 shares in the last quarter. Baron Wealth Management LLC bought a new stake in shares of Seneca Foods during the 1st quarter valued at $245,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Seneca Foods during the 4th quarter valued at $722,000. 42.51% of the stock is owned by hedge funds and other institutional investors.

Seneca Foods Trading Up 1.0%

Shares of SENEA opened at $168.16 on Friday. The firm has a market cap of $1.14 billion, a P/E ratio of 10.13 and a beta of -0.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.06 and a quick ratio of 1.07. Seneca Foods Corp. has a 1 year low of $95.55 and a 1 year high of $181.43. The company has a 50 day simple moving average of $145.30 and a two-hundred day simple moving average of $134.53.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SENEA. Weiss Ratings upgraded shares of Seneca Foods from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 15th. Freedom Capital raised Seneca Foods to a “strong-buy” rating in a report on Wednesday, May 20th. Finally, Wall Street Zen upgraded Seneca Foods from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Strong Buy”.

Seneca Foods 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.