Seneca Foods (NASDAQ:SENEA) Sets New 1-Year High - Here's What Happened

Key Points

• Seneca Foods reached a new 52-week high, trading at $107.36, indicating strong market performance with a reported volume of 16,228 shares.
• Analysts at Wall Street Zen downgraded Seneca Foods from a "buy" to a "hold" rating, suggesting a shift in investment sentiment.
• Institutional investors now hold 42.51% of Seneca Foods, with several hedge funds increasing their stakes significantly in the last quarter.

Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $107.36 and last traded at $107.16, with a volume of 16228 shares. The stock had previously closed at $103.91.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Seneca Foods from a "buy" rating to a "hold" rating in a research report on Tuesday, April 29th.

Seneca Foods Stock Performance

The firm's 50-day moving average price is $97.98 and its 200 day moving average price is $88.33. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 3.52. The company has a market cap of $720.80 million, a price-to-earnings ratio of 17.72 and a beta of 0.42.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last issued its quarterly earnings results on Thursday, June 12th. The company reported $1.37 EPS for the quarter. Seneca Foods had a net margin of 2.61% and a return on equity of 11.03%. The company had revenue of $345.84 million during the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System bought a new position in Seneca Foods during the 2nd quarter worth approximately $43,000. Lazard Asset Management LLC bought a new position in Seneca Foods during the 4th quarter worth approximately $54,000. Russell Investments Group Ltd. lifted its stake in Seneca Foods by 179.2% in the first quarter. Russell Investments Group Ltd. now owns 726 shares of the company's stock valued at $65,000 after buying an additional 466 shares in the last quarter. HFM Investment Advisors LLC bought a new position in Seneca Foods in the first quarter valued at approximately $71,000. Finally, KLP Kapitalforvaltning AS bought a new position in Seneca Foods in the fourth quarter valued at approximately $87,000. Institutional investors own 42.51% of the company's stock.

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.