Seneca Foods (NASDAQ:SENEA) Reaches New 52-Week High – Should You Buy?

Seneca Foods Corp. (NASDAQ:SENEA)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $181.50 and last traded at $181.8740, with a volume of 81771 shares changing hands. The stock had previously closed at $173.94.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SENEA shares. Freedom Capital upgraded Seneca Foods to a “strong-buy” rating in a report on Wednesday, May 20th. 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. Finally, Wall Street Zen raised shares of Seneca Foods from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, Seneca Foods presently has a consensus rating of “Strong Buy”.

Seneca Foods Stock Performance

The company has a fifty day simple moving average of $148.96 and a two-hundred day simple moving average of $136.86. The company has a market capitalization of $1.25 billion, a P/E ratio of 11.08 and a beta of -0.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.06 and a quick ratio of 1.07.

Institutional Investors Weigh In On Seneca Foods

A number of large investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its stake in shares of Seneca Foods by 75.0% in 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 last quarter. American Century Companies Inc. grew its stake 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 buying an additional 35,480 shares during the last quarter. EVR Research LP bought a new position in Seneca Foods in the 3rd quarter worth $2,267,000. Draper Asset Management LLC bought a new position in Seneca Foods in the 1st quarter worth $987,000. Finally, Ritholtz Wealth Management lifted its position in Seneca Foods by 68.6% during the 1st quarter. Ritholtz Wealth Management now owns 18,988 shares of the company’s stock worth $2,869,000 after acquiring an additional 7,723 shares during the last quarter. 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.