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

Seneca Foods Corp. (NASDAQ:SENEA) shares saw strong trading volume on Monday . 59,096 shares traded hands during trading, an increase of 4% from the previous session’s volume of 56,719 shares.The stock last traded at $146.92 and had previously closed at $143.78.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SENEA. Wall Street Zen downgraded shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seneca Foods in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

Seneca Foods Stock Performance

The firm’s 50 day simple moving average is $126.50 and its 200 day simple moving average is $117.55. The firm has a market capitalization of $970.41 million, a price-to-earnings ratio of 11.03 and a beta of 0.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.72 and a current ratio of 4.34.

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

Institutional Trading of Seneca Foods

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in Seneca Foods by 5.2% in the first quarter. Royal Bank of Canada now owns 7,738 shares of the company’s stock valued at $690,000 after acquiring an additional 384 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Seneca Foods by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,813 shares of the company’s stock valued at $250,000 after purchasing an additional 156 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Seneca Foods in the 1st quarter valued at $245,000. Empowered Funds LLC boosted its holdings in Seneca Foods by 54.0% during the first quarter. Empowered Funds LLC now owns 14,865 shares of the company’s stock worth $1,324,000 after buying an additional 5,214 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Seneca Foods by 8.0% during the second quarter. Geode Capital Management LLC now owns 139,457 shares of the company’s stock valued at $14,146,000 after buying an additional 10,357 shares during the period. 42.51% of the stock is owned by institutional investors and hedge funds.

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.