Seneca Foods (NASDAQ:SENEA) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Seneca Foods' share price has surpassed its 200-day moving average, trading at $111.66, compared to the average of $97.68.
• Analyst ratings for Seneca Foods are mixed, with a recent downgrade to a "hold" rating from Wall Street Zen, while Weiss Ratings maintains a "buy" rating.
• Institutional investors have increased their stakes in Seneca Foods, with significant boosts from companies like American Century Companies Inc. and Arrowstreet Capital Limited Partnership.

Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $97.68 and traded as high as $112.07. Seneca Foods shares last traded at $111.66, with a volume of 21,150 shares traded.

Analyst Ratings Changes

A number of research firms have commented on SENEA. Wall Street Zen cut Seneca Foods from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Seneca Foods in a research note on Saturday, September 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy".

Seneca Foods Trading Up 0.6%

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.66 and a current ratio of 4.11. The company has a market cap of $765.99 million, a price-to-earnings ratio of 17.92 and a beta of 0.19. The company's fifty day moving average is $107.36 and its two-hundred day moving average is $97.68.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.86 earnings per share for the quarter. Seneca Foods had a net margin of 2.76% and a return on equity of 10.07%. The firm had revenue of $297.46 million for the quarter.

Institutional Trading of Seneca Foods

A number of hedge funds have recently modified their holdings of SENEA. Vanguard Group Inc. boosted its position in Seneca Foods by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 307,325 shares of the company's stock worth $27,364,000 after purchasing an additional 6,208 shares in the last quarter. Geode Capital Management LLC grew its position in Seneca Foods by 8.0% during the second quarter. Geode Capital Management LLC now owns 139,457 shares of the company's stock valued at $14,146,000 after buying an additional 10,357 shares during the period. American Century Companies Inc. increased its holdings in Seneca Foods by 69.5% in the second quarter. American Century Companies Inc. now owns 120,247 shares of the company's stock valued at $12,197,000 after buying an additional 49,318 shares in the last quarter. Invesco Ltd. raised its position in shares of Seneca Foods by 80.0% in the first quarter. Invesco Ltd. now owns 52,492 shares of the company's stock worth $4,674,000 after acquiring an additional 23,329 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Seneca Foods by 667.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 46,501 shares of the company's stock worth $4,717,000 after acquiring an additional 40,442 shares in the last quarter. Hedge funds and other institutional investors own 42.51% of the company's stock.

Seneca Foods Company Profile

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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