Dean Everett Erstad Sells 1,587 Shares of Seneca Foods (NASDAQ:SENEA) Stock

Key Points

• Seneca Foods VP Dean Everett Erstad sold 1,587 shares at an average price of $206.16, generating $327,175.92. The sale reduced his direct holdings by 72.27% to 609 shares.
• Seneca Foods shares traded at $195, near their 52-week high of $210, while the company’s latest quarterly results showed EPS of $2.85, slightly below estimates, and revenue of $405.17 million, above expectations.
• Analyst opinions remain generally positive, with the stock carrying a “Moderate Buy” consensus rating. Institutional investors own 42.51% of the company, with several firms increasing their positions during the second quarter.

Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report) VP Dean Everett Erstad sold 1,587 shares of the company's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $206.16, for a total transaction of $327,175.92. Following the sale, the vice president directly 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 link.

Seneca Foods Price Performance

Shares of NASDAQ SENEA traded down $0.71 during trading hours on Tuesday, hitting $195.00. 132,164 shares of the stock were exchanged, compared to its average volume of 105,678. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 3.77. The company has a market cap of $1.32 billion, a PE ratio of 11.27 and a beta of -0.03. The company's fifty day simple moving average is $181.06 and its two-hundred day simple moving average is $158.52. Seneca Foods Corp. has a 1-year low of $99.58 and a 1-year high of $210.00.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $327.00 million. Seneca Foods had a net margin of 6.75% and a return on equity of 14.96%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings upgraded Seneca Foods from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, June 15th. Freedom Capital downgraded shares of Seneca Foods from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Wall Street Zen lowered shares of Seneca Foods from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SENEA. Corient Private Wealth LP grew its position in Seneca Foods by 187.7% during the 2nd quarter. Corient Private Wealth LP now owns 14,085 shares of the company's stock worth $2,450,000 after acquiring an additional 9,190 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Seneca Foods in the second quarter valued at about $1,235,000. California State Teachers Retirement System boosted its stake in shares of Seneca Foods by 20,313.7% during the second quarter. California State Teachers Retirement System now owns 887,790 shares of the company's stock valued at $154,422,000 after purchasing an additional 883,441 shares in the last quarter. Navellier & Associates Inc. boosted its stake in shares of Seneca Foods by 169.3% during the second quarter. Navellier & Associates Inc. now owns 6,791 shares of the company's stock valued at $1,181,000 after purchasing an additional 4,269 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in shares of Seneca Foods during the second quarter worth about $690,000. 42.51% of the stock is currently owned by institutional investors.

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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