Seneca Foods (NASDAQ:SENEA) Trading Down 3.4% – Here’s Why

Shares of Seneca Foods Corp. (NASDAQ:SENEA) fell 3.4% during trading on Tuesday . The company traded as low as $138.79 and last traded at $141.7060. 11,971 shares were traded during mid-day trading, a decline of 79% from the average session volume of 57,299 shares. The stock had previously closed at $146.71.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen downgraded Seneca Foods from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Weiss Ratings restated a “buy (b)” rating on shares of Seneca Foods in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Seneca Foods Stock Performance

The company has a market cap of $974.95 million, a P/E ratio of 11.08 and a beta of 0.02. The company’s fifty day moving average is $127.14 and its 200 day moving average is $117.74. The company has a current ratio of 4.34, a quick ratio of 0.72 and a debt-to-equity ratio of 0.37.

Seneca Foods (NASDAQ:SENEA) last posted its quarterly earnings results on Thursday, February 5th. The company reported $6.48 earnings per share (EPS) for the quarter. Seneca Foods had a net margin of 5.58% and a return on equity of 12.30%. The business had revenue of $508.35 million during the quarter.

Hedge Funds Weigh In On Seneca Foods

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in Seneca Foods in the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC bought a new position in shares of Seneca Foods in the second quarter worth approximately $36,000. CWM LLC grew its holdings in shares of Seneca Foods by 75.9% in the third quarter. CWM LLC now owns 475 shares of the company’s stock worth $51,000 after purchasing an additional 205 shares during the last quarter. Quarry LP purchased a new position in shares of Seneca Foods in the third quarter worth $57,000. Finally, Employees Retirement System of Texas bought a new stake in Seneca Foods during the 3rd quarter valued at $64,000. 42.51% of the stock is currently owned by institutional investors.

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.