JPMorgan Chase & Co. Decreases Stock Position in Seneca Foods Corp. $SENEA

JPMorgan Chase & Co. lowered its stake in Seneca Foods Corp. (NASDAQ:SENEA) by 24.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,051 shares of the company’s stock after selling 4,592 shares during the quarter. JPMorgan Chase & Co.’s holdings in Seneca Foods were worth $1,517,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Caxton Associates LLP purchased a new stake in Seneca Foods in the 3rd quarter worth $532,000. PharVision Advisers LLC purchased a new stake in Seneca Foods in the 3rd quarter worth $355,000. Verition Fund Management LLC purchased a new stake in Seneca Foods in the 3rd quarter worth $255,000. Quarry LP purchased a new stake in Seneca Foods in the 3rd quarter worth $57,000. Finally, Qube Research & Technologies Ltd lifted its stake in Seneca Foods by 72.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 27,969 shares of the company’s stock worth $3,019,000 after purchasing an additional 11,758 shares in the last quarter. Hedge funds and other institutional investors own 42.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Weiss Ratings restated 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, Seneca Foods currently has a consensus rating of “Buy”.

Seneca Foods Stock Performance

Seneca Foods stock opened at $159.23 on Thursday. The company’s 50-day moving average price is $137.84 and its 200-day moving average price is $122.15. Seneca Foods Corp. has a twelve month low of $81.00 and a twelve month high of $165.26. The company has a quick ratio of 0.72, a current ratio of 4.34 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.08 billion, a PE ratio of 12.25 and a beta of 0.03.

Seneca Foods (NASDAQ:SENEA) last posted its earnings results on Thursday, February 5th. The company reported $6.48 earnings per share for the quarter. Seneca Foods had a net margin of 5.58% and a return on equity of 12.30%. The firm had revenue of $508.35 million for the quarter.

Seneca Foods Profile

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.