Ritholtz Wealth Management Makes New $787,000 Investment in Seneca Foods Corp. $SENEA

Key Points

• Ritholtz Wealth Management has acquired a new stake in Seneca Foods Corp. worth approximately $787,000, totaling 7,761 shares, representing 0.11% ownership in the company.
• Several institutional investors, including Royal Bank of Canada and Russell Investments Group Ltd., have also increased their positions in Seneca Foods during the first quarter, indicating growing interest in the stock.
• Analyst ratings on Seneca Foods show a consensus of "Buy," with Weiss Ratings reissuing a "buy (b-)" rating, while others have downgraded it to "hold," creating a mixed outlook for investors.

Ritholtz Wealth Management purchased a new position in Seneca Foods Corp. (NASDAQ:SENEA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,761 shares of the company's stock, valued at approximately $787,000. Ritholtz Wealth Management owned 0.11% of Seneca Foods at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Seneca Foods by 5.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,813 shares of the company's stock worth $250,000 after acquiring an additional 156 shares during the period. Royal Bank of Canada increased its stake in shares of Seneca Foods by 5.2% in the first quarter. Royal Bank of Canada now owns 7,738 shares of the company's stock worth $690,000 after purchasing an additional 384 shares in the last quarter. Money Concepts Capital Corp increased its stake in shares of Seneca Foods by 1.5% in the first quarter. Money Concepts Capital Corp now owns 29,886 shares of the company's stock worth $2,661,000 after purchasing an additional 444 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Seneca Foods by 179.2% in the first quarter. Russell Investments Group Ltd. now owns 726 shares of the company's stock worth $65,000 after purchasing an additional 466 shares in the last quarter. Finally, HFM Investment Advisors LLC purchased a new stake in shares of Seneca Foods in the first quarter worth $71,000. 42.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SENEA shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Seneca Foods in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Seneca Foods from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy".

Seneca Foods Stock Performance

SENEA opened at $122.04 on Friday. The stock has a market capitalization of $837.19 million, a price-to-earnings ratio of 19.59 and a beta of 0.19. The company has a fifty day moving average of $109.60 and a 200 day moving average of $99.33. Seneca Foods Corp. has a fifty-two week low of $60.92 and a fifty-two week high of $123.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.66 and a current ratio of 4.11.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.86 earnings per share for the quarter. The company 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%.

Seneca Foods Company Profile

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.

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