Seneca Foods (NASDAQ:SENEA) Cut to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Seneca Foods from "strong-buy" to "buy" while Weiss Ratings reaffirmed a "buy (b)," leaving the stock with an average rating of "Buy."
• Seneca shares were down 1.6% and opened at $137.68; the company has a market cap of about $932.1M, a P/E of 10.59, and last quarter reported EPS $6.48 on $508.35M in revenue.
• Multiple institutional investors (including Range Financial, DGS Capital, Draper Asset Management and Janney) added or raised positions, and institutions now own roughly 42.51% of the stock.

Seneca Foods (NASDAQ:SENEA - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Sunday.

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Seneca Foods in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Seneca Foods currently has an average rating of "Buy".

Seneca Foods Stock Down 1.6%

Seneca Foods stock opened at $137.68 on Friday. The firm has a market cap of $932.09 million, a price-to-earnings ratio of 10.59 and a beta of -0.03. The firm has a 50 day moving average price of $144.91 and a two-hundred day moving average price of $126.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.72 and a current ratio of 4.34. Seneca Foods has a 52-week low of $85.20 and a 52-week high of $167.51.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $6.48 earnings per share (EPS) for the quarter. The business had revenue of $508.35 million during the quarter. Seneca Foods had a return on equity of 12.30% and a net margin of 5.58%.

Institutional Trading of Seneca Foods

A number of institutional investors have recently made changes to their positions in the stock. Range Financial Group LLC purchased a new stake in shares of Seneca Foods during the first quarter valued at approximately $1,140,000. DGS Capital Management LLC purchased a new stake in shares of Seneca Foods during the first quarter valued at approximately $212,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Seneca Foods by 28.0% during the first quarter. Y Intercept Hong Kong Ltd now owns 8,966 shares of the company's stock valued at $1,355,000 after purchasing an additional 1,962 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Seneca Foods by 1.9% during the first quarter. Janney Montgomery Scott LLC now owns 26,579 shares of the company's stock valued at $4,017,000 after purchasing an additional 499 shares during the period. Finally, Draper Asset Management LLC purchased a new stake in shares of Seneca Foods during the first quarter valued at approximately $987,000. Hedge funds and other institutional investors own 42.51% of the company's stock.

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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