Seneca Foods (NASDAQ:SENEA) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of Seneca Foods (NASDAQ:SENEA) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

SENEA has been the topic of several other research reports. Weiss Ratings upgraded shares of Seneca Foods from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 15th. Freedom Capital downgraded shares of Seneca Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Seneca Foods Stock Performance

Shares of NASDAQ:SENEA opened at $191.70 on Friday. The firm has a market capitalization of $1.30 billion, a PE ratio of 11.07 and a beta of -0.07. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.77 and a quick ratio of 0.88. The business has a 50-day moving average of $169.61 and a two-hundred day moving average of $149.85. Seneca Foods has a 12 month low of $99.58 and a 12 month high of $196.39.

Seneca Foods (NASDAQ:SENEA) last released its quarterly earnings data on Thursday, August 6th. The company reported $2.85 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($0.07). The firm had revenue of $405.17 million during the quarter, compared to analysts’ expectations of $327.00 million. Seneca Foods had a return on equity of 14.96% and a net margin of 6.75%.

Institutional Investors Weigh In On Seneca Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Seneca Foods by 10.0% during the third quarter. Vanguard Group Inc. now owns 351,033 shares of the company’s stock valued at $37,891,000 after acquiring an additional 31,873 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Seneca Foods by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 138,182 shares of the company’s stock valued at $15,289,000 after purchasing an additional 516 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Seneca Foods by 12.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,203 shares of the company’s stock valued at $12,192,000 after purchasing an additional 12,409 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Seneca Foods by 31.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 61,222 shares of the company’s stock valued at $6,608,000 after purchasing an additional 14,721 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in Seneca Foods by 30.9% during the 1st quarter. Lazard Asset Management LLC now owns 57,470 shares of the company’s stock valued at $8,685,000 after purchasing an additional 13,564 shares in 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.