Seneca Foods (NASDAQ:SENEA) Sees Strong Trading Volume – What’s Next?

Seneca Foods Corp. (NASDAQ:SENEA) shares saw unusually-high trading volume on Wednesday . Approximately 43,262 shares traded hands during mid-day trading, an increase of 13% from the previous session’s volume of 38,345 shares.The stock last traded at $119.37 and had previously closed at $121.63.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen cut Seneca Foods from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Weiss Ratings reissued a “buy (b)” rating on shares of Seneca Foods in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Seneca Foods has an average rating of “Buy”.

Seneca Foods Price Performance

The firm has a market capitalization of $816.01 million, a price-to-earnings ratio of 13.84 and a beta of 0.11. The company has a current ratio of 2.59, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $114.24 and a two-hundred day moving average price of $111.68.

Hedge Funds Weigh In On Seneca Foods

Several institutional investors have recently modified their holdings of the company. Ballentine Partners LLC lifted its position in Seneca Foods by 3.2% in the 4th quarter. Ballentine Partners LLC now owns 2,862 shares of the company’s stock valued at $317,000 after purchasing an additional 89 shares during the last quarter. Peapod Lane Capital LLC raised its holdings in shares of Seneca Foods by 0.7% during the fourth quarter. Peapod Lane Capital LLC now owns 37,523 shares of the company’s stock valued at $4,151,000 after buying an additional 272 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Seneca Foods by 75.0% during the fourth quarter. Teacher Retirement System of Texas now owns 21,633 shares of the company’s stock worth $2,393,000 after buying an additional 9,273 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Seneca Foods by 227.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,183 shares of the company’s stock worth $131,000 after buying an additional 822 shares during the period. Finally, Ritholtz Wealth Management increased its position in Seneca Foods by 12.2% in the 4th quarter. Ritholtz Wealth Management now owns 11,265 shares of the company’s stock valued at $1,246,000 after acquiring an additional 1,225 shares during the period. Institutional investors own 42.51% of the company’s stock.

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.