Seneca Foods (NASDAQ:SENEA) Sets New 12-Month High – Should You Buy?

Shares of Seneca Foods Corp. (NASDAQ:SENEA) reached a new 52-week high on Tuesday . The stock traded as high as $187.61 and last traded at $181.36, with a volume of 126235 shares traded. The stock had previously closed at $183.98.

Analyst Ratings Changes

Several equities analysts have commented on SENEA shares. Freedom Capital upgraded shares of Seneca Foods to a “strong-buy” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Seneca Foods from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings upgraded shares of Seneca Foods from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 15th. One 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 MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Seneca Foods Stock Performance

The firm has a fifty day simple moving average of $150.91 and a 200-day simple moving average of $137.87. The company has a quick ratio of 1.07, a current ratio of 5.06 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.23 billion, a PE ratio of 10.93 and a beta of -0.07.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in shares of Seneca Foods by 75.0% during the fourth quarter. Teacher Retirement System of Texas now owns 21,633 shares of the company’s stock worth $2,393,000 after buying an additional 9,273 shares during the period. American Century Companies Inc. increased its position in Seneca Foods by 29.5% in the 3rd quarter. American Century Companies Inc. now owns 155,727 shares of the company’s stock valued at $16,809,000 after acquiring an additional 35,480 shares during the period. EVR Research LP acquired a new position in Seneca Foods in the 3rd quarter valued at about $2,267,000. Draper Asset Management LLC acquired a new position in Seneca Foods in the 1st quarter valued at about $987,000. Finally, Ritholtz Wealth Management raised its stake in Seneca Foods by 68.6% during the 1st quarter. Ritholtz Wealth Management now owns 18,988 shares of the company’s stock valued at $2,869,000 after acquiring an additional 7,723 shares during the last quarter. 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.