Seneca Foods (NASDAQ:SENEA) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Seneca Foods (NASDAQ:SENEAFree Report) from a hold rating to a sell rating in a research note issued to investors on Monday.

Seneca Foods Price Performance

NASDAQ SENEA opened at $46.23 on Monday. Seneca Foods has a 52 week low of $32.50 and a 52 week high of $59.99. The company has a current ratio of 4.81, a quick ratio of 0.49 and a debt-to-equity ratio of 1.05. The stock has a market cap of $330.54 million, a price-to-earnings ratio of 6.12 and a beta of 0.34. The company has a 50-day moving average price of $52.50 and a two-hundred day moving average price of $51.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SENEA. Allspring Global Investments Holdings LLC bought a new position in shares of Seneca Foods in the fourth quarter valued at approximately $43,000. National Bank of Canada FI boosted its holdings in Seneca Foods by 40.8% during the second quarter. National Bank of Canada FI now owns 1,443 shares of the company’s stock worth $47,000 after buying an additional 418 shares in the last quarter. Guardian Wealth Management Inc. bought a new stake in Seneca Foods during the third quarter worth approximately $66,000. FMR LLC boosted its holdings in Seneca Foods by 72.2% during the third quarter. FMR LLC now owns 1,288 shares of the company’s stock worth $69,000 after buying an additional 540 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Seneca Foods by 89.0% during the second quarter. Wells Fargo & Company MN now owns 2,289 shares of the company’s stock worth $75,000 after buying an additional 1,078 shares in the last quarter. 48.51% of the stock is currently owned by institutional investors.

About Seneca Foods

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Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. It operates through three segments: Fruits and Vegetables, Prepared Food Products, and Snack Products. The company offers canned, frozen, and bottled 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.

Further Reading

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