Seneca Foods (NASDAQ:SENEA) Sees Strong Trading Volume - Still a Buy?

Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report) shares saw strong trading volume on Wednesday . 77,139 shares traded hands during mid-day trading, an increase of 174% from the previous session's volume of 28,203 shares.The stock last traded at $88.72 and had previously closed at $90.34.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Seneca Foods from a "buy" rating to a "hold" rating in a research note on Tuesday, April 29th.

Seneca Foods Stock Performance

The company has a market capitalization of $612.77 million, a price-to-earnings ratio of 15.12 and a beta of 0.41. The firm has a fifty day simple moving average of $89.34 and a 200 day simple moving average of $82.90. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.52 and a quick ratio of 0.71.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last released its quarterly earnings results on Thursday, June 12th. The company reported $1.37 earnings per share (EPS) for the quarter. The firm had revenue of $345.84 million for the quarter. Seneca Foods had a net margin of 2.61% and a return on equity of 11.03%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its holdings in shares of Seneca Foods by 2.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 5,578 shares of the company's stock worth $442,000 after buying an additional 129 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Seneca Foods by 5.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,813 shares of the company's stock valued at $250,000 after acquiring an additional 156 shares in the last quarter. Anchor Capital Advisors LLC raised its holdings in Seneca Foods by 1.2% in the 4th quarter. Anchor Capital Advisors LLC now owns 24,036 shares of the company's stock valued at $1,905,000 after acquiring an additional 293 shares during the last quarter. Van ECK Associates Corp lifted its stake in Seneca Foods by 73.6% in the 4th quarter. Van ECK Associates Corp now owns 729 shares of the company's stock worth $58,000 after purchasing an additional 309 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Seneca Foods by 5.2% during the 1st quarter. Royal Bank of Canada now owns 7,738 shares of the company's stock worth $690,000 after purchasing an additional 384 shares during the last quarter. 42.51% of the stock is owned by hedge funds and other institutional investors.

About Seneca Foods

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. The company offers canned, frozen, and jarred produce; jarred fruit; and snack chips and other food products under the private label, as well as under various national and regional brands that the company owns or licenses, including Seneca, Libby's, Aunt Nellie's, Cherryman, Green Valley, and READ.

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