Martingale Asset Management L P Makes New $665,000 Investment in Seneca Foods Corp. $SENEA

Key Points

• Martingale Asset Management L P purchased 7,466 shares of Seneca Foods Corp. valued at approximately $665,000, representing a 0.11% stake in the company.
• Seneca Foods recently reported quarterly earnings of $0.86 per share with revenues of $297.46 million, showing a net margin of 2.76%.
• Wall Street analysts downgraded Seneca Foods from a "buy" to a "hold" rating earlier this month, indicating shifting market sentiment.

Martingale Asset Management L P purchased a new position in shares of Seneca Foods Corp. (NASDAQ:SENEA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,466 shares of the company's stock, valued at approximately $665,000. Martingale Asset Management L P owned approximately 0.11% of Seneca Foods at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Seneca Foods by 12,377.1% during the first quarter. GAMMA Investing LLC now owns 19,589 shares of the company's stock worth $1,744,000 after purchasing an additional 19,432 shares during the last quarter. Informed Momentum Co LLC purchased a new position in shares of Seneca Foods in the first quarter valued at $1,032,000. Pullen Investment Management LLC raised its stake in shares of Seneca Foods by 46.2% during the 4th quarter. Pullen Investment Management LLC now owns 27,974 shares of the company's stock worth $2,217,000 after buying an additional 8,842 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Seneca Foods in the 1st quarter worth about $206,000. Finally, Shufro Rose & Co. LLC boosted its position in shares of Seneca Foods by 259.1% in the 1st quarter. Shufro Rose & Co. LLC now owns 34,650 shares of the company's stock worth $3,085,000 after buying an additional 25,000 shares in the last quarter. 42.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Seneca Foods from a "buy" rating to a "hold" rating in a report on Saturday, August 9th.

Seneca Foods Trading Up 0.3%

Shares of NASDAQ:SENEA traded up $0.36 during trading on Friday, reaching $112.86. The stock had a trading volume of 66,823 shares, compared to its average volume of 44,379. The company has a quick ratio of 0.66, a current ratio of 4.11 and a debt-to-equity ratio of 0.44. The stock has a market cap of $774.22 million, a P/E ratio of 18.12 and a beta of 0.38. The business has a fifty day moving average price of $103.44 and a 200-day moving average price of $92.80. Seneca Foods Corp. has a fifty-two week low of $59.21 and a fifty-two week high of $115.40.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.86 EPS for the quarter. The firm had revenue of $297.46 million during the quarter. Seneca Foods had a net margin of 2.76% and a return on equity of 10.07%.

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.