Seneca Foods (NASDAQ:SENEA) Reaches New 12-Month High – Here’s What Happened

Seneca Foods Corp. (NASDAQ:SENEA) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $134.14 and last traded at $121.0650, with a volume of 34088 shares changing hands. The stock had previously closed at $119.70.

Analyst Upgrades and Downgrades

SENEA has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Seneca Foods in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Seneca Foods Stock Down 0.2%

The business has a 50 day simple moving average of $114.19 and a 200 day simple moving average of $111.94. The company has a market capitalization of $817.24 million, a price-to-earnings ratio of 9.19 and a beta of 0.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.59 and a quick ratio of 0.42.

Seneca Foods (NASDAQ:SENEA) last issued its quarterly earnings data on Thursday, February 5th. The company reported $6.48 earnings per share for the quarter. The business had revenue of $508.35 million during the quarter. Seneca Foods had a return on equity of 12.60% and a net margin of 5.58%.

Institutional Trading of Seneca Foods

Several hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas grew its position in shares of Seneca Foods by 35.1% during the second quarter. Teacher Retirement System of Texas now owns 3,119 shares of the company’s stock worth $316,000 after buying an additional 811 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Seneca Foods by 172.7% in the third quarter. Assenagon Asset Management S.A. now owns 28,599 shares of the company’s stock worth $3,087,000 after acquiring an additional 18,112 shares during the last quarter. American Century Companies Inc. grew its holdings in Seneca Foods by 69.5% during the 2nd quarter. American Century Companies Inc. now owns 120,247 shares of the company’s stock worth $12,197,000 after acquiring an additional 49,318 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Seneca Foods during the 2nd quarter worth approximately $787,000. Finally, Geode Capital Management LLC increased its position in shares of Seneca Foods by 8.0% in the 2nd quarter. Geode Capital Management LLC now owns 139,457 shares of the company’s stock valued at $14,146,000 after purchasing an additional 10,357 shares during the last quarter. Institutional investors and hedge funds own 42.51% of the company’s stock.

Seneca Foods Company Profile

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.