Arrowstreet Capital Limited Partnership Reduces Stock Position in Seneca Foods Corp. $SENEA

Key Points

• Arrowstreet Capital cut its Seneca Foods stake by 11.7% in the first quarter, selling 6,742 shares and retaining 50,776 shares valued at approximately $7.7 million. Institutional investors collectively own 42.51% of the company.
• Analyst sentiment remains positive: Freedom Capital issued a “strong-buy” rating, while other analysts upgraded their views. MarketBeat reports an average rating of “Strong Buy.”
• Seneca Foods shares opened at $165.49, with a market capitalization of about $1.12 billion and a price-to-earnings ratio of 9.97. The stock has traded between $99.58 and $187.61 over the past 52 weeks.

Arrowstreet Capital Limited Partnership trimmed its stake in shares of Seneca Foods Corp. (NASDAQ:SENEA - Free Report) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,776 shares of the company's stock after selling 6,742 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.75% of Seneca Foods worth $7,673,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SENEA. Inceptionr LLC acquired a new stake in shares of Seneca Foods in the 1st quarter worth approximately $220,000. Sei Investments Co. boosted its position in Seneca Foods by 48.2% during the first quarter. Sei Investments Co. now owns 7,716 shares of the company's stock worth $1,166,000 after purchasing an additional 2,510 shares in the last quarter. First Trust Advisors LP grew its holdings in Seneca Foods by 2.2% in the first quarter. First Trust Advisors LP now owns 19,039 shares of the company's stock valued at $2,877,000 after purchasing an additional 407 shares during the last quarter. Swiss National Bank grew its holdings in Seneca Foods by 2.3% in the first quarter. Swiss National Bank now owns 9,000 shares of the company's stock valued at $1,360,000 after purchasing an additional 200 shares during the last quarter. Finally, Range Financial Group LLC purchased a new position in shares of Seneca Foods in the first quarter valued at $1,140,000. Hedge funds and other institutional investors own 42.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Freedom Capital raised shares of Seneca Foods to a "strong-buy" rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Seneca Foods from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. Finally, Weiss Ratings upgraded shares of Seneca Foods from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Strong Buy".

Seneca Foods Stock Performance

Seneca Foods stock opened at $165.49 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.07 and a current ratio of 5.06. The stock has a fifty day moving average of $162.38 and a two-hundred day moving average of $145.43. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 9.97 and a beta of -0.07. Seneca Foods Corp. has a fifty-two week low of $99.58 and a fifty-two week high of $187.61.

Seneca Foods Company Profile

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.

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