Hsbc Holdings PLC Sells 3,720 Shares of Seneca Foods Corp. $SENEA

Hsbc Holdings PLC trimmed its holdings in shares of Seneca Foods Corp. (NASDAQ:SENEA) by 56.7% in the first quarter, HoldingsChannel.com reports. The fund owned 2,840 shares of the company’s stock after selling 3,720 shares during the period. Hsbc Holdings PLC’s holdings in Seneca Foods were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new position in Seneca Foods in the 2nd quarter valued at $36,000. Quarry LP purchased a new stake in shares of Seneca Foods during the 3rd quarter valued at $57,000. Employees Retirement System of Texas bought a new stake in shares of Seneca Foods during the 3rd quarter worth $64,000. Van ECK Associates Corp raised its stake in shares of Seneca Foods by 34.8% during the 3rd quarter. Van ECK Associates Corp now owns 818 shares of the company’s stock worth $88,000 after purchasing an additional 211 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Seneca Foods by 36.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock worth $101,000 after purchasing an additional 267 shares during the period. 42.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SENEA has been the subject of several research reports. Freedom Capital upgraded shares of Seneca Foods to a “strong-buy” rating in a research report on Wednesday, May 20th. Weiss Ratings upgraded shares of Seneca Foods from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 15th. Finally, Wall Street Zen raised shares of Seneca Foods from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, Seneca Foods currently has an average rating of “Strong Buy”.

Seneca Foods Stock Performance

Shares of SENEA stock opened at $165.49 on Friday. The firm’s 50 day moving average is $162.38 and its 200 day moving average is $145.43. The stock has a market capitalization of $1.12 billion, a P/E ratio of 9.97 and a beta of -0.07. Seneca Foods Corp. has a 12 month low of $99.58 and a 12 month high of $187.61. The company has a current ratio of 5.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.34.

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.