Seneca Foods (NASDAQ:SENEA) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of Seneca Foods Corp. (NASDAQ:SENEA – Get Free Report) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $165.98 and traded as high as $184.29. Seneca Foods shares last traded at $183.41, with a volume of 97,357 shares trading hands.

Analyst Ratings Changes

Several research firms recently issued reports on SENEA. Weiss Ratings raised shares of Seneca Foods from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Wall Street Zen lowered shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Freedom Capital lowered shares of Seneca Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

View Our Latest Research Report on SENEA

Seneca Foods Trading Down 0.7%

The firm has a market capitalization of $1.23 billion, a P/E ratio of 10.50 and a beta of -0.03. The business’s 50 day moving average is $186.36 and its two-hundred day moving average is $166.23. 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 – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $2.85 EPS for the quarter, missing the consensus estimate of $2.92 by ($0.07). The firm had revenue of $405.17 million for the quarter, compared to the consensus estimate of $327.00 million. Seneca Foods had a return on equity of 14.96% and a net margin of 6.75%.

Insider Activity at Seneca Foods

In related news, VP Dean Erstad sold 1,587 shares of Seneca Foods stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $206.16, for a total value of $327,175.92. Following the transaction, the vice president owned 609 shares of the company’s stock, valued at approximately $125,551.44. This trade represents a 72.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Seneca Foods

Large investors have recently made changes to their positions in the company. Lazard Asset Management LLC boosted its position in shares of Seneca Foods by 30.9% in the first 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 period. Pacer Advisors Inc. lifted its stake in shares of Seneca Foods by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 45,456 shares of the company’s stock valued at $5,029,000 after buying an additional 896 shares during the period. Empowered Funds LLC increased its stake in Seneca Foods by 8.1% during the first quarter. Empowered Funds LLC now owns 31,394 shares of the company’s stock valued at $4,744,000 after acquiring an additional 2,354 shares during the period. Janney Montgomery Scott LLC raised its holdings in Seneca Foods by 1.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 26,579 shares of the company’s stock valued at $4,017,000 after acquiring an additional 499 shares in the last quarter. Finally, EVR Research LP grew its holdings in shares of Seneca Foods by 9.5% during the 4th quarter. EVR Research LP now owns 23,000 shares of the company’s stock worth $2,544,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 42.51% of the company’s stock.

Seneca Foods Company Profile

(Get Free Report)

Seneca Foods Corporation is a food processor and packaged-food company headquartered in Marion, New York. Founded in 1949, the company processes and distributes fruits and vegetables for retail, foodservice, and industrial customers.

Its product portfolio includes canned and frozen vegetables, canned fruits, applesauce, fruit snacks, and other shelf-stable and frozen food products. Seneca sells products under its own brands, including Seneca, as well as private-label brands for retailers and foodservice operators.

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