10,393 Shares in Seneca Foods Corp. $SENEA Bought by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management bought 10,393 Seneca Foods shares worth approximately $1.81 million, giving it a 0.15% stake. Institutional investors collectively own 42.51% of the company.
• Analyst sentiment remains positive but mixed: Seneca Foods has a consensus “Moderate Buy” rating, with one Buy and one Hold rating following recent upgrades and downgrades.
• Seneca Foods shares opened at $191.70, near their 52-week high of $196.39. In its latest quarter, the company reported $2.85 in EPS—below estimates—but revenue of $405.17 million exceeded expectations.

Wedge Capital Management L L P NC bought a new stake in Seneca Foods Corp. (NASDAQ:SENEA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,393 shares of the company's stock, valued at approximately $1,808,000. Wedge Capital Management L L P NC owned about 0.15% of Seneca Foods at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new stake in shares of Seneca Foods during the 2nd quarter worth about $36,000. Public Employees Retirement System of Ohio acquired a new stake in Seneca Foods during the 1st quarter worth approximately $54,000. Quarry LP purchased a new position in Seneca Foods in the third quarter valued at approximately $57,000. Employees Retirement System of Texas purchased a new position in Seneca Foods in the third quarter valued at approximately $64,000. Finally, Royal Bank of Canada lifted its position in Seneca Foods by 22.6% during the first quarter. Royal Bank of Canada now owns 429 shares of the company's stock valued at $65,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 42.51% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SENEA. Freedom Capital downgraded shares of Seneca Foods from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Weiss Ratings raised shares of Seneca Foods from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, June 15th. Finally, Wall Street Zen lowered shares of Seneca Foods from a "strong-buy" rating to a "buy" rating in a report on Saturday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Seneca Foods Stock Performance

Shares of NASDAQ:SENEA opened at $191.70 on Friday. The company has a market cap of $1.30 billion, a P/E ratio of 11.07 and a beta of -0.07. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 3.77. Seneca Foods Corp. has a one year low of $99.58 and a one year high of $196.39. The business's 50-day simple moving average is $169.61 and its 200 day simple moving average is $149.85.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $2.85 EPS for the quarter, missing the consensus estimate of $2.92 by ($0.07). Seneca Foods had a return on equity of 14.96% and a net margin of 6.75%.The company had revenue of $405.17 million for the quarter, compared to analyst estimates of $327.00 million.

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.

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