Seneca Foods (NASDAQ:SENEA) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Seneca Foods has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating.
• The company reported earnings of $0.86 per share and revenue of $297.46 million for the last quarter.
• 42.51% of Seneca Foods' stock is owned by institutional investors and hedge funds, indicating a significant level of institutional interest.

Wall Street Zen cut shares of Seneca Foods (NASDAQ:SENEA - Free Report) from a buy rating to a hold rating in a research report released on Saturday morning.

Seneca Foods Stock Down 0.5%

Shares of SENEA traded down $0.48 during trading hours on Friday, hitting $104.35. The stock had a trading volume of 6,898 shares, compared to its average volume of 43,944. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.11 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $99.54 and a 200-day simple moving average of $90.07. The firm has a market capitalization of $718.94 million, a P/E ratio of 16.75 and a beta of 0.38. Seneca Foods has a 1-year low of $59.21 and a 1-year high of $107.36.

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

Hedge Funds Weigh In On Seneca Foods

Several hedge funds and other institutional investors have recently modified their holdings of SENEA. Quadrature Capital Ltd grew its position in shares of Seneca Foods by 292.5% during the second quarter. Quadrature Capital Ltd now owns 12,021 shares of the company's stock valued at $1,217,000 after purchasing an additional 8,958 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Seneca Foods during the second quarter valued at approximately $632,000. Russell Investments Group Ltd. raised its stake in shares of Seneca Foods by 36.8% during the second quarter. Russell Investments Group Ltd. now owns 993 shares of the company's stock valued at $101,000 after acquiring an additional 267 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Seneca Foods by 3.8% during the second quarter. Prudential Financial Inc. now owns 8,375 shares of the company's stock valued at $849,000 after acquiring an additional 304 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Seneca Foods by 69.5% during the second quarter. American Century Companies Inc. now owns 120,247 shares of the company's stock valued at $12,197,000 after acquiring an additional 49,318 shares in the last quarter. 42.51% of the stock is owned by institutional investors.

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.