Seneca Foods (NASDAQ:SENEA) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Seneca Foods' share price has recently surpassed its 200-day moving average of $89.54, reaching a high of $105.72 before settling at $103.11.
• Analysts at Wall Street Zen have downgraded Seneca Foods from a "buy" rating to a "hold" rating following their latest performance.
• The company's recent quarterly earnings revealed an EPS of $0.86 with revenues totaling $297.46 million, demonstrating a net margin of 2.76% and a return on equity of 10.19%.

Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $89.54 and traded as high as $105.72. Seneca Foods shares last traded at $103.11, with a volume of 49,038 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Seneca Foods from a "buy" rating to a "hold" rating in a research note on Saturday.

Seneca Foods Trading Up 0.1%

The company has a quick ratio of 0.66, a current ratio of 4.11 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $722.86 million, a P/E ratio of 16.83 and a beta of 0.38. The firm has a 50 day moving average of $99.54 and a 200-day moving average of $90.07.

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

Institutional Trading of Seneca Foods

A number of institutional investors and hedge funds have recently bought and sold shares of SENEA. Vanguard Group Inc. grew its stake in shares of Seneca Foods by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 307,325 shares of the company's stock valued at $27,364,000 after buying an additional 6,208 shares during the period. Geode Capital Management LLC grew its stake in shares of Seneca Foods by 8.0% in the 2nd 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. lifted its position in Seneca Foods by 69.5% in the 2nd quarter. American Century Companies Inc. now owns 120,247 shares of the company's stock valued at $12,197,000 after acquiring an additional 49,318 shares in the last quarter. Northern Trust Corp lifted its position in Seneca Foods by 11.1% in the 4th quarter. Northern Trust Corp now owns 70,134 shares of the company's stock valued at $5,559,000 after acquiring an additional 7,020 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Seneca Foods by 80.0% in the 1st quarter. Invesco Ltd. now owns 52,492 shares of the company's stock valued at $4,674,000 after acquiring an additional 23,329 shares in the last quarter. 42.51% of the stock is currently owned by institutional investors and hedge funds.

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.