Seneca Foods (NASDAQ:SENEA) Stock Crosses Below 200 Day Moving Average – What’s Next?

Seneca Foods Corp. (NASDAQ:SENEA)’s share price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $156.29 and traded as low as $153.14. Seneca Foods shares last traded at $155.72, with a volume of 76,507 shares.

Analyst Ratings Changes

SENEA has been the topic of several analyst reports. Wall Street Zen upgraded Seneca Foods from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 24th. Freedom Capital cut Seneca Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Weiss Ratings cut Seneca Foods from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, October 23rd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Seneca Foods Trading Up 1.5%

The stock’s 50 day moving average price is $181.26 and its 200-day moving average price is $156.74. The company has a quick ratio of 0.88, a current ratio of 3.77 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.08 billion, a PE ratio of 9.18 and a beta of -0.03.

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 analysts’ consensus estimates of $2.92 by ($0.07). Seneca Foods had a net margin of 6.75% and a return on equity of 14.96%. The firm had revenue of $405.17 million for the quarter, compared to analysts’ expectations of $327.00 million.

Insider Activity at Seneca Foods

In other news, VP Dean Erstad sold 1,587 shares of the company’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 completion of the transaction, the vice president owned 609 shares of the company’s stock, valued at $125,551.44. This represents a 72.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.24% of the stock is owned by insiders.

Institutional Trading of Seneca Foods

Institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its holdings in Seneca Foods by 30.9% in the 1st quarter. Lazard Asset Management LLC now owns 57,470 shares of the company’s stock worth $8,685,000 after purchasing an additional 13,564 shares in the last quarter. Empowered Funds LLC grew its holdings in Seneca Foods by 8.1% during the 1st quarter. Empowered Funds LLC now owns 31,394 shares of the company’s stock valued at $4,744,000 after buying an additional 2,354 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Seneca Foods by 1.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 26,579 shares of the company’s stock valued at $4,017,000 after buying an additional 499 shares in the last quarter. Pullen Investment Management LLC raised its position in shares of Seneca Foods by 0.7% during the third quarter. Pullen Investment Management LLC now owns 20,242 shares of the company’s stock valued at $3,603,000 after buying an additional 136 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Seneca Foods by 2.2% during the first quarter. First Trust Advisors LP now owns 19,039 shares of the company’s stock valued at $2,877,000 after buying an additional 407 shares during the last quarter. Hedge funds and other institutional investors own 42.51% of the company’s stock.

Seneca Foods Company Profile

Seneca Foods Corporation is a U.S.-based food processor and producer of packaged fruits and vegetables. The company supplies retail, food service, industrial and government customers with canned, frozen and prepared foods, including vegetables, fruits, applesauce, snack products and ingredients.

Seneca markets products under brands including Seneca, Libby’s, Green Giant, Aunt Nellie’s, READ and CherryMan, while also producing private-label goods for retailers and other food companies. Its product portfolio includes canned and frozen vegetables, fruit products, shelf-stable meals and ingredients used by commercial food manufacturers.

Founded in 1949 and headquartered in Marion, New York, Seneca operates processing and distribution facilities primarily in the United States and sources agricultural products from North American growing regions.