Seneca Foods (NASDAQ:SENEA) Upgraded at Freedom Broker

Freedom Broker upgraded shares of Seneca Foods (NASDAQ:SENEA) from a hold rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat reports. They currently have $202.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Seneca Foods from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 7th. Freedom Capital lowered shares of Seneca Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Weiss Ratings cut shares of Seneca Foods from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Seneca Foods has an average rating of “Buy” and an average price target of $202.00.

Seneca Foods Stock Performance

SENEA stock opened at $175.60 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.60 and a quick ratio of 0.37. Seneca Foods has a 1 year low of $105.05 and a 1 year high of $210.00. The company has a market cap of $1.19 billion, a P/E ratio of 10.16 and a beta of -0.03. The stock’s fifty day moving average price is $174.70 and its 200-day moving average price is $158.61.

Seneca Foods’s stock is set to split on Tuesday, November 17th. The 5-1 split was recently announced. The newly issued shares will be issued to shareholders after the market closes on Monday, November 16th.

Seneca Foods (NASDAQ:SENEA) last posted its earnings results on Wednesday, November 4th. The company reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $3.82 by $1.25. The company had revenue of $492.59 million for the quarter, compared to the consensus estimate of $506.00 million. Seneca Foods had a return on equity of 15.73% and a net margin of 6.60%.

Insider Transactions at Seneca Foods

In other news, VP Dean Erstad sold 1,587 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $206.16, for a total value of $327,175.92. Following the transaction, the vice president owned 609 shares of the company’s stock, valued at $125,551.44. This trade represents a 72.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in Seneca Foods by 31.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,913 shares of the company’s stock worth $1,600,000 after acquiring an additional 2,108 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Seneca Foods by 9.0% in the third quarter. Fifth Third Bancorp now owns 3,601 shares of the company’s stock worth $641,000 after purchasing an additional 298 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Seneca Foods by 3.8% in the third quarter. Ritholtz Wealth Management now owns 22,594 shares of the company’s stock worth $4,022,000 after purchasing an additional 819 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Seneca Foods by 28.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 48,758 shares of the company’s stock worth $8,632,000 after purchasing an additional 10,830 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of Seneca Foods during the 3rd quarter valued at $554,000. 42.51% of the stock is currently owned by institutional investors.

Seneca Foods Company Profile

Seneca Foods Corporation is a U.S. food processor and packager specializing in fruits and vegetables. Its products include canned and frozen vegetables and fruits, as well as snack foods. The company sells products under brands including Seneca, Libby’s, Aunt Nellie’s and Green Giant, and also produces food for retailer and foodservice customers under private labels. Its products are distributed in the United States and other markets. Founded in 1949, Seneca Foods is headquartered in Marion, New York, and operates processing and packaging facilities in agricultural regions across the United States.