VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Seneca Foods Corp. $SENEA

Key Points

• Virginia Retirement Systems purchased 7,100 Seneca Foods shares worth approximately $1.24 million, while institutional investors collectively own 42.51% of the company.
• Seneca Foods shares opened at $190.62, up 2.4%, with a market capitalization of about $1.29 billion; the stock remains near its 52-week high of $210.00.
• The company reported quarterly EPS of $2.85, slightly below analysts’ $2.92 estimate, despite revenue of $405.17 million exceeding the $327 million consensus. An insider also sold 1,587 shares, while analysts maintain a “Moderate Buy” consensus.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Seneca Foods Corp. (NASDAQ:SENEA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,100 shares of the company's stock, valued at approximately $1,235,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.10% of Seneca Foods as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. EverSource Wealth Advisors LLC purchased a new stake in shares of Seneca Foods during the second quarter worth about $36,000. Public Employees Retirement System of Ohio purchased a new position in Seneca Foods in the 1st quarter worth approximately $54,000. Quarry LP purchased a new position in Seneca Foods in the 3rd quarter worth approximately $57,000. Employees Retirement System of Texas bought a new position in Seneca Foods in the 3rd quarter worth approximately $64,000. Finally, Royal Bank of Canada boosted its stake in Seneca Foods by 22.6% in the 1st quarter. Royal Bank of Canada now owns 429 shares of the company's stock worth $65,000 after purchasing an additional 79 shares during the period. 42.51% of the stock is currently owned by hedge funds and other institutional investors.

Seneca Foods Trading Up 2.4%

SENEA stock opened at $190.62 on Friday. The firm has a fifty day moving average price of $181.86 and a 200 day moving average price of $160.08. Seneca Foods Corp. has a fifty-two week low of $99.58 and a fifty-two week high of $210.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 3.77. The firm has a market cap of $1.29 billion, a PE ratio of 11.01 and a beta of -0.03.

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

Insider Buying and Selling at Seneca Foods

In other news, VP Dean Erstad sold 1,587 shares of the company's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $206.16, for a total transaction of $327,175.92. Following the sale, the vice president directly owned 609 shares in the company, valued at approximately $125,551.44. This represents a 72.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

About Seneca Foods

Seneca Foods Corporation is a U.S.-based food processor and packaged-food company that produces and distributes fruits, vegetables and related food products. The company supplies retail, foodservice and industrial customers, with products sold under its own brands as well as private-label programs for retailers and other food companies.

Its product portfolio includes canned and frozen vegetables, canned fruits, fruit and vegetable snacks, prepared foods, sauces and other packaged food items.

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