Seneca Foods (NASDAQ:SENEA) VP Sells $327,175.92 in Stock

Seneca Foods Corp. (NASDAQ:SENEA) VP Dean Erstad sold 1,587 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $206.16, for a total value of $327,175.92. Following the sale, the vice president directly owned 609 shares in the company, valued at $125,551.44. This trade represents a 72.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Seneca Foods Stock Performance

NASDAQ:SENEA opened at $186.19 on Friday. The firm has a market capitalization of $1.26 billion, a PE ratio of 10.76 and a beta of -0.03. The stock’s fifty day moving average is $181.72 and its 200 day moving average is $159.86. Seneca Foods Corp. has a fifty-two week low of $99.58 and a fifty-two week high of $210.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 3.77.

Seneca Foods (NASDAQ:SENEA) last released its earnings results on Thursday, August 6th. The company reported $2.85 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($0.07). Seneca Foods had a return on equity of 14.96% and a net margin of 6.75%.The business had revenue of $405.17 million for the quarter, compared to the consensus estimate of $327.00 million.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SENEA. Wall Street Zen downgraded Seneca Foods from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. 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 upgraded shares of Seneca Foods from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 15th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in shares of Seneca Foods by 278.4% in the second quarter. Tidal Investments LLC now owns 5,278 shares of the company’s stock worth $918,000 after buying an additional 3,883 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Seneca Foods during the second quarter valued at $26,000. Squarepoint Ops LLC purchased a new stake in shares of Seneca Foods during the second quarter valued at $215,000. Arizona State Retirement System acquired a new position in shares of Seneca Foods in the 2nd quarter valued at $225,000. Finally, Corient Private Wealth LP increased its position in shares of Seneca Foods by 187.7% in the 2nd quarter. Corient Private Wealth LP now owns 14,085 shares of the company’s stock valued at $2,450,000 after acquiring an additional 9,190 shares during the period. Institutional investors and hedge funds own 42.51% of the company’s stock.

Seneca Foods Company 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.