Seneca Foods (NASDAQ:SENEA) Upgraded to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Seneca Foods (NASDAQ:SENEA) from a buy rating to a strong-buy rating in a report published on Saturday, BidAskClub reports.

Shares of SENEA opened at $30.35 on Friday. The stock’s 50-day moving average is $28.55. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.90 and a current ratio of 5.37. Seneca Foods has a fifty-two week low of $21.97 and a fifty-two week high of $35.90.

Seneca Foods (NASDAQ:SENEA) last posted its earnings results on Thursday, June 13th. The company reported ($0.14) earnings per share (EPS) for the quarter. Seneca Foods had a negative return on equity of 9.55% and a net margin of 0.44%. The firm had revenue of $262.59 million for the quarter.

A number of institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in Seneca Foods by 3.2% in the 2nd quarter. Wells Fargo & Company MN now owns 11,963 shares of the company’s stock valued at $333,000 after buying an additional 372 shares in the last quarter. Rhumbline Advisers raised its holdings in Seneca Foods by 2.3% in the 1st quarter. Rhumbline Advisers now owns 20,384 shares of the company’s stock valued at $501,000 after acquiring an additional 458 shares during the last quarter. KBC Group NV raised its holdings in Seneca Foods by 15.7% in the 2nd quarter. KBC Group NV now owns 7,638 shares of the company’s stock valued at $213,000 after acquiring an additional 1,036 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Seneca Foods by 608.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,501 shares of the company’s stock valued at $37,000 after acquiring an additional 1,289 shares during the last quarter. Finally, Strs Ohio raised its holdings in Seneca Foods by 7.5% in the 2nd quarter. Strs Ohio now owns 20,000 shares of the company’s stock valued at $556,000 after acquiring an additional 1,400 shares during the last quarter. 49.00% of the stock is currently owned by hedge funds and other institutional investors.

About Seneca Foods

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. It offers canned, frozen, and bottled produce; and snack chips and other food products under the private label, as well as under various national and regional brands that the company owns or licenses, including Seneca, Libby's, Aunt Nellie's, READ, Green Valley, Cherryman, and Seneca Farms.

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