Seneca Foods Corp. $SENEA Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors reduced its Seneca Foods stake by 14.1% in the first quarter, selling 6,414 shares and retaining 39,042 shares worth approximately $5.9 million.
• Institutional investors and hedge funds own 42.51% of SENEA, with several firms initiating or increasing positions recently.
• Analysts have upgraded Seneca Foods, giving the stock a consensus “Strong Buy” rating. Shares opened at $170.74, versus a 52-week range of $99.58 to $187.61.

Pacer Advisors Inc. reduced its holdings in shares of Seneca Foods Corp. (NASDAQ:SENEA - Free Report) by 14.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 39,042 shares of the company's stock after selling 6,414 shares during the period. Pacer Advisors Inc. owned approximately 0.58% of Seneca Foods worth $5,900,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SENEA. EverSource Wealth Advisors LLC purchased a new stake in shares of Seneca Foods in the second quarter valued at about $36,000. Public Employees Retirement System of Ohio purchased a new position in shares of Seneca Foods during the first quarter worth about $54,000. Quarry LP acquired a new position in Seneca Foods in the 3rd quarter valued at about $57,000. Employees Retirement System of Texas acquired a new position in Seneca Foods in the 3rd quarter valued at about $64,000. Finally, Royal Bank of Canada raised its stake in Seneca Foods by 22.6% during the 1st quarter. Royal Bank of Canada now owns 429 shares of the company's stock valued at $65,000 after acquiring an additional 79 shares during the last quarter. 42.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on SENEA. Weiss Ratings upgraded Seneca Foods from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, June 15th. Freedom Capital raised Seneca Foods to a "strong-buy" rating in a report on Wednesday, May 20th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, Seneca Foods presently has a consensus rating of "Strong Buy".

Seneca Foods Price Performance

Shares of NASDAQ:SENEA opened at $170.74 on Thursday. The company has a quick ratio of 1.07, a current ratio of 5.06 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.16 billion, a P/E ratio of 10.29 and a beta of -0.07. Seneca Foods Corp. has a 52 week low of $99.58 and a 52 week high of $187.61. The company has a 50-day moving average price of $164.06 and a 200 day moving average price of $146.82.

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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