Seneca Foods (NASDAQ:SENEA) Stock Crosses Above 200 Day Moving Average - Here's What Happened

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 share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 trading hands.

Wall Street Analyst Weigh In

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

Seneca Foods Stock Up 0.4%

The business's 50 day moving average price is $99.18 and its 200-day moving average price is $89.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.11 and a quick ratio of 0.66. The company has a market cap of $710.43 million, a P/E ratio of 16.55 and a beta of 0.38.

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

Institutional Investors Weigh In On Seneca Foods

Several hedge funds and other institutional investors have recently bought and sold shares of SENEA. JPMorgan Chase & Co. boosted its stake in Seneca Foods by 42.2% in the fourth quarter. JPMorgan Chase & Co. now owns 28,996 shares of the company's stock valued at $2,298,000 after acquiring an additional 8,606 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Seneca Foods by 22.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,888 shares of the company's stock valued at $229,000 after acquiring an additional 538 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Seneca Foods by 2.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,578 shares of the company's stock valued at $442,000 after acquiring an additional 129 shares during the last quarter. Invesco Ltd. boosted its stake in Seneca Foods by 1.9% in the fourth quarter. Invesco Ltd. now owns 29,163 shares of the company's stock valued at $2,311,000 after acquiring an additional 556 shares during the last quarter. Finally, Barclays PLC boosted its stake in Seneca Foods by 11.4% in the fourth quarter. Barclays PLC now owns 8,042 shares of the company's stock valued at $637,000 after acquiring an additional 820 shares during the last quarter. 42.51% of the stock is owned by 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.