Seneca Foods (NASDAQ:SENEA) Downgraded to Sell at StockNews.com

StockNews.com lowered shares of Seneca Foods (NASDAQ:SENEA) from a hold rating to a sell rating in a research report report published on Wednesday.

Seneca Foods Stock Performance

Shares of SENEA opened at $57.09 on Wednesday. Seneca Foods has a 52 week low of $32.50 and a 52 week high of $63.37. The company has a quick ratio of 0.49, a current ratio of 4.81 and a debt-to-equity ratio of 1.05. The stock has a market cap of $406.31 million, a price-to-earnings ratio of 6.77 and a beta of 0.34. The business has a 50-day simple moving average of $58.69 and a two-hundred day simple moving average of $54.29.

Seneca Foods (NASDAQ:SENEA) last issued its quarterly earnings results on Thursday, June 13th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $307.98 million for the quarter. Seneca Foods had a net margin of 4.34% and a return on equity of 13.73%.

Hedge Funds Weigh In On Seneca Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in Seneca Foods by 41.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 90,282 shares of the company’s stock worth $4,860,000 after purchasing an additional 26,598 shares during the last quarter. Anchor Capital Advisors LLC bought a new position in shares of Seneca Foods during the 3rd quarter valued at approximately $707,000. Brandywine Global Investment Management LLC raised its holdings in Seneca Foods by 4.0% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 62,161 shares of the company’s stock valued at $3,346,000 after buying an additional 2,413 shares during the period. Caxton Associates LP purchased a new position in Seneca Foods during the third quarter worth $230,000. Finally, Range Financial Group LLC increased its position in Seneca Foods by 4.2% during the fourth quarter. Range Financial Group LLC now owns 9,913 shares of the company’s stock valued at $520,000 after acquiring an additional 401 shares during the last quarter. Institutional investors own 42.51% of the company’s stock.

About Seneca Foods

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.