Hsbc Holdings PLC Purchases New Shares in Seneca Foods Corp. $SENEA

Key Points

• HSBC Holdings PLC disclosed a new stake in Seneca Foods, buying 6,560 shares valued at about $722,000 in the fourth quarter and holding roughly 0.10% of the company.
• Seneca Foods shares were down 1.2% in Thursday trading, opening at $167.24, while the stock remains well above its 52-week low and near its 52-week high.
• Analysts have turned more bullish on the stock, with recent upgrades leaving Seneca Foods with a consensus rating of “Strong Buy”.

Hsbc Holdings PLC acquired a new stake in Seneca Foods Corp. (NASDAQ:SENEA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,560 shares of the company's stock, valued at approximately $722,000. Hsbc Holdings PLC owned about 0.10% of Seneca Foods as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings 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 worth $37,891,000 after purchasing an additional 31,873 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 516 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Seneca Foods by 12.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,203 shares of the company's stock worth $12,192,000 after buying an additional 12,409 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Seneca Foods by 31.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 61,222 shares of the company's stock worth $6,608,000 after buying an additional 14,721 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Seneca Foods by 47.5% during the 3rd quarter. Millennium Management LLC now owns 53,608 shares of the company's stock worth $5,786,000 after acquiring an additional 17,271 shares during the last quarter. Institutional investors and hedge funds own 42.51% of the company's stock.

Seneca Foods Trading Down 1.2%

Shares of SENEA opened at $167.24 on Thursday. The stock's fifty day simple moving average is $155.91 and its 200-day simple moving average is $140.96. The firm has a market capitalization of $1.13 billion, a PE ratio of 10.07 and a beta of -0.07. Seneca Foods Corp. has a 12-month low of $99.58 and a 12-month high of $187.61. The company has a quick ratio of 1.07, a current ratio of 5.06 and a debt-to-equity ratio of 0.34.

Analyst Upgrades and Downgrades

SENEA has been the subject of several research reports. 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. 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, Freedom Capital raised shares of Seneca Foods to a "strong-buy" rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Strong Buy".

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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