Seneca Foods (NASDAQ:SENEA) Reaches New 52-Week High – Should You Buy?

Seneca Foods Co. (NASDAQ:SENEA)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $72.88 and last traded at $72.88, with a volume of 6574 shares changing hands. The stock had previously closed at $69.96.

Seneca Foods Stock Up 2.6 %

The company has a fifty day simple moving average of $63.53 and a 200-day simple moving average of $61.07. The company has a quick ratio of 0.33, a current ratio of 2.64 and a debt-to-equity ratio of 0.73. The firm has a market cap of $494.50 million, a P/E ratio of 12.00 and a beta of 0.26.

Hedge Funds Weigh In On Seneca Foods

A number of hedge funds have recently made changes to their positions in SENEA. BNP Paribas Financial Markets lifted its position in shares of Seneca Foods by 42.3% in the first quarter. BNP Paribas Financial Markets now owns 5,155 shares of the company’s stock worth $293,000 after buying an additional 1,533 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Seneca Foods during the first quarter valued at approximately $255,000. Oppenheimer & Close LLC bought a new position in shares of Seneca Foods during the second quarter valued at approximately $2,014,000. Bank of New York Mellon Corp grew its stake in shares of Seneca Foods by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 27,294 shares of the company’s stock valued at $1,567,000 after buying an additional 1,013 shares during the last quarter. Finally, Pullen Investment Management LLC grew its stake in Seneca Foods by 2.5% in the second quarter. Pullen Investment Management LLC now owns 16,461 shares of the company’s stock worth $945,000 after purchasing an additional 397 shares in the last quarter. Institutional investors own 42.51% of the company’s stock.

About Seneca Foods

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. The company offers canned, frozen, and jarred produce; jarred fruit; 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, Cherryman, Green Valley, and READ.