Seneca Foods (NASDAQ:SENEA) Hits New 12-Month High – Here’s Why

Shares of Seneca Foods Corp. (NASDAQ:SENEA) hit a new 52-week high on Tuesday . The company traded as high as $127.45 and last traded at $126.44, with a volume of 101752 shares changing hands. The stock had previously closed at $124.74.

Analysts Set New Price Targets

SENEA has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Seneca Foods in a research note on Wednesday, November 19th. Wall Street Zen upgraded shares of Seneca Foods from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Seneca Foods currently has a consensus rating of “Buy”.

Seneca Foods Trading Up 3.4%

The firm has a market capitalization of $883.01 million, a price-to-earnings ratio of 20.71 and a beta of 0.19. The business’s 50-day moving average price is $112.65 and its 200 day moving average price is $104.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.11 and a quick ratio of 0.66.

Institutional Trading of Seneca Foods

Large investors have recently modified their holdings of the business. Caxton Associates LLP acquired a new position in shares of Seneca Foods in the third quarter worth about $532,000. PharVision Advisers LLC acquired a new stake in Seneca Foods during the 3rd quarter valued at approximately $355,000. Verition Fund Management LLC purchased a new stake in Seneca Foods during the 3rd quarter worth approximately $255,000. Quarry LP acquired a new position in shares of Seneca Foods in the 3rd quarter valued at approximately $57,000. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Seneca Foods by 72.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 27,969 shares of the company’s stock valued at $3,019,000 after buying an additional 11,758 shares during the last quarter. 42.51% of the stock is currently owned by institutional investors and hedge funds.

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.