Seneca Foods (NASDAQ:SENEA) Sets New 12-Month High - Here's Why

Key Points

• Seneca Foods shares hit a new **12-month high**, reaching up to **$123.27**, with a recent trading price of **$121.18** and a volume of **76,520 shares** traded.
• Analysts have mixed ratings on Seneca Foods, with **Wall Street Zen** downgrading it from a "buy" to a "hold," while **Weiss Ratings** reaffirmed a "buy" rating.
• Institutional investors have increased their stakes in Seneca Foods significantly, with **American Century Companies Inc.** raising its holdings by **69.5%** and **Arrowstreet Capital** by an astonishing **667.5%** over recent quarters.

Shares of Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $123.27 and last traded at $121.18, with a volume of 76520 shares traded. The stock had previously closed at $120.15.

Analysts Set New Price Targets

SENEA has been the topic of a number of research reports. Wall Street Zen lowered Seneca Foods from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Seneca Foods in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy".

Seneca Foods Price Performance

The company has a current ratio of 4.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $109.60 and a 200 day simple moving average of $99.40. The stock has a market capitalization of $808.79 million, a P/E ratio of 18.89 and a beta of 0.19.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last issued its quarterly earnings data 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 return on equity of 10.07% and a net margin of 2.76%.

Hedge Funds Weigh In On Seneca Foods

Several institutional investors have recently bought and sold shares of SENEA. Vanguard Group Inc. increased its stake in Seneca Foods by 2.1% in the first quarter. Vanguard Group Inc. now owns 307,325 shares of the company's stock valued at $27,364,000 after acquiring an additional 6,208 shares during the last quarter. Geode Capital Management LLC increased its stake in Seneca Foods by 8.0% in the second quarter. Geode Capital Management LLC now owns 139,457 shares of the company's stock valued at $14,146,000 after acquiring an additional 10,357 shares during the last quarter. American Century Companies Inc. increased its stake in Seneca Foods by 69.5% in 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 during the last quarter. Invesco Ltd. grew its stake in shares of Seneca Foods by 80.0% during the first quarter. Invesco Ltd. now owns 52,492 shares of the company's stock valued at $4,674,000 after buying an additional 23,329 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Seneca Foods by 667.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 46,501 shares of the company's stock valued at $4,717,000 after buying an additional 40,442 shares during the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.