Seneca Foods (NASDAQ:SENEA) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Seneca Foods Corp. (NASDAQ:SENEA)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $143.30 and traded as high as $165.88. Seneca Foods shares last traded at $164.13, with a volume of 88,948 shares traded.

Analyst Ratings Changes

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

Seneca Foods Stock Down 0.5%

The firm has a 50 day moving average price of $159.15 and a 200-day moving average price of $143.30. The company has a current ratio of 5.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.34. The firm has a market cap of $1.11 billion, a PE ratio of 9.89 and a beta of -0.07.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 valued at $37,891,000 after purchasing an additional 31,873 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Seneca Foods by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 138,182 shares of the company’s stock worth $15,289,000 after buying an additional 516 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Seneca Foods by 12.7% during 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 in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Seneca Foods by 31.7% during 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 in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Seneca Foods by 30.9% in the 1st quarter. Lazard Asset Management LLC now owns 57,470 shares of the company’s stock valued at $8,685,000 after acquiring an additional 13,564 shares during the last quarter. Hedge funds and other institutional investors 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.