Wall Street Zen Downgrades Seneca Foods (NASDAQ:SENEA) to Buy

Seneca Foods (NASDAQ:SENEA) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Seneca Foods in a report on Monday, December 29th. One research 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 Price Performance

Shares of NASDAQ:SENEA opened at $121.63 on Friday. The business’s 50 day simple moving average is $114.40 and its 200-day simple moving average is $111.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.59 and a quick ratio of 0.42. The firm has a market capitalization of $831.95 million, a price-to-earnings ratio of 14.11 and a beta of 0.11. Seneca Foods has a 12 month low of $70.98 and a 12 month high of $129.03.

Hedge Funds Weigh In On Seneca Foods

Large investors have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in shares of Seneca Foods during the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC purchased a new position in shares of Seneca Foods in the 2nd quarter valued at $36,000. New York State Teachers Retirement System acquired a new position in shares of Seneca Foods during the 2nd quarter valued at $43,000. CWM LLC boosted its position in Seneca Foods by 75.9% during the 3rd quarter. CWM LLC now owns 475 shares of the company’s stock worth $51,000 after purchasing an additional 205 shares during the period. Finally, Quarry LP acquired a new stake in Seneca Foods in the 3rd quarter valued at $57,000. 42.51% of the stock is currently owned by hedge funds and other institutional investors.

About Seneca Foods

Seneca Foods Corporation is a leading producer and distributor of shelf-stable fruits, vegetables and fruit‐based products. The company’s core activities include the processing, packaging and sale of canned fruits and vegetables, natural fruit juices, apple sauces and fruit‐based snacks. Seneca Foods caters to both retail and foodservice markets, supplying national and international grocers, restaurant chains and food manufacturers with branded and private‐label products.

Seneca Foods operates a network of manufacturing facilities and cold storage warehouses across North America, with key processing plants in New York, Michigan, California and Canada.