Seneca Foods (NASDAQ:SENEA) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $158.06 and traded as high as $172.44. Seneca Foods shares last traded at $167.24, with a volume of 205,400 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SENEA. Freedom Broker upgraded shares of Seneca Foods from a "hold" rating to a "buy" rating and set a $202.00 price target on the stock in a research note on Monday. Wall Street Zen cut shares of Seneca Foods from a "strong-buy" rating to a "hold" rating in a report on Saturday. Freedom Capital downgraded shares of Seneca Foods from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded shares of Seneca Foods from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.00.

Seneca Foods Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 3.77 and a quick ratio of 0.88. The stock's 50-day moving average price is $175.87 and its 200-day moving average price is $158.06. The company has a market cap of $1.13 billion, a P/E ratio of 9.67 and a beta of -0.03.

Seneca Foods shares are set to split on the morning of Tuesday, November 17th. The 5-1 split was recently announced. The newly issued shares will be distributed to shareholders after the closing bell on Monday, November 16th.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $3.82 by $1.25. The business had revenue of $492.59 million during the quarter, compared to analysts' expectations of $506.00 million. Seneca Foods had a net margin of 6.60% and a return on equity of 16.01%.

Insider Activity at Seneca Foods

In other Seneca Foods news, VP Dean Erstad sold 1,587 shares of Seneca Foods stock in a transaction on Friday, September 4th. The stock was sold at an average price of $206.16, for a total value of $327,175.92. Following the completion of the transaction, the vice president directly owned 609 shares of the company's stock, valued at $125,551.44. The trade was a 72.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.24% of the company's stock.

Institutional Investors Weigh In On Seneca Foods

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its position in shares of Seneca Foods by 31.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,913 shares of the company's stock valued at $1,600,000 after acquiring an additional 2,108 shares during the period. Fifth Third Bancorp boosted its stake in Seneca Foods by 9.0% during the third quarter. Fifth Third Bancorp now owns 3,601 shares of the company's stock worth $641,000 after acquiring an additional 298 shares in the last quarter. Ritholtz Wealth Management boosted its stake in Seneca Foods by 3.8% during the third quarter. Ritholtz Wealth Management now owns 22,594 shares of the company's stock worth $4,022,000 after acquiring an additional 819 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Seneca Foods by 28.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 48,758 shares of the company's stock worth $8,632,000 after purchasing an additional 10,830 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in Seneca Foods in the third quarter worth $554,000. Institutional investors and hedge funds own 42.51% of the company's stock.

Seneca Foods Company Profile

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