Seneca Foods (NASDAQ:SENEA) VP Dean Everett Erstad Sells 1,587 Shares

Seneca Foods Corp. (NASDAQ:SENEA) VP Dean Everett Erstad sold 1,587 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $206.16, for a total value of $327,175.92. Following the sale, the vice president owned 609 shares in the company, valued at approximately $125,551.44. The trade was a 72.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Seneca Foods Price Performance

Seneca Foods stock opened at $195.00 on Wednesday. The firm has a market capitalization of $1.32 billion, a PE ratio of 11.27 and a beta of -0.03. Seneca Foods Corp. has a 52 week low of $99.58 and a 52 week high of $210.00. The firm’s 50-day simple moving average is $181.48 and its 200 day simple moving average is $159.01. The company has a quick ratio of 0.88, a current ratio of 3.77 and a debt-to-equity ratio of 0.26.

Seneca Foods (NASDAQ:SENEA) last posted its earnings results on Thursday, August 6th. The company reported $2.85 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($0.07). The business had revenue of $405.17 million for the quarter, compared to analysts’ expectations of $327.00 million. Seneca Foods had a net margin of 6.75% and a return on equity of 14.96%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in Seneca Foods by 20,313.7% in the second quarter. California State Teachers Retirement System now owns 887,790 shares of the company’s stock valued at $154,422,000 after purchasing an additional 883,441 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Seneca Foods by 667.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 46,501 shares of the company’s stock worth $4,717,000 after purchasing an additional 40,442 shares during the period. Lazard Asset Management LLC raised its stake in Seneca Foods by 231.9% during the third quarter. Lazard Asset Management LLC now owns 46,709 shares of the company’s stock worth $5,042,000 after purchasing an additional 32,635 shares during the period. Vanguard Group Inc. boosted its holdings 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. Finally, Millennium Management LLC boosted its holdings in shares of Seneca Foods by 47.5% in the 3rd quarter. Millennium Management LLC now owns 53,608 shares of the company’s stock valued at $5,786,000 after purchasing an additional 17,271 shares during the last quarter. 42.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Weiss Ratings upgraded Seneca Foods from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 15th. Wall Street Zen downgraded Seneca Foods from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Freedom Capital cut Seneca Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

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.