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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (39570)10/5/2010 11:56:52 PM
From: Paul Senior  Read Replies (1) of 78702
 
SENEA. I'm one who is familiar with several of the brands. Possibly both because I'm familiar with the geographic area in which Seneca operates (processes) and because I am interested in grocery stores and grocery shopping.

We could argue whether its important Libby brand has national (USA) recognition and what that recognition is. I say it's positive among shoppers for quality of canned goods. It's really only important to me though that the product gets shelf space. Farmers farm and harvest, and Seneca is right there to process and ship. If nature provides favorably, the farmers have a good season and so should Seneca. In other words, I expect good years and bad years for Seneca, just as I would for farmers.

I expect SENEA to be profitable this year, and with a current and outlooked p/e of 7, the stock's a buy for me. Food companies which trade at or under 10x are, in my view, generally good buys at that level. SENEA no exception. Of course, that's MY view and jmo.
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