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

Key Points

• Seneca Foods shares hit a new 52-week high intraday at $167.52 and last traded around $164.68, well above its 50-day ($139.76) and 200-day ($123.14) moving averages, signaling a strong recent rally.
• Analysts maintain a consensus Buy rating—Weiss Ratings reiterated a buy while Wall Street Zen downgraded from strong-buy to buy—reflecting generally positive broker sentiment.
• The company reported robust recent results with $6.48 EPS on $508.35 million in revenue, a P/E of 12.43, and notable institutional buying (42.51% ownership) as several funds materially increased positions.

Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as $167.52 and last traded at $164.6760, with a volume of 4177 shares trading hands. The stock had previously closed at $164.62.

Analysts Set New Price Targets

Several brokerages have commented on SENEA. Weiss Ratings reiterated a "buy (b)" rating on shares of Seneca Foods in a research report on Monday, December 29th. Wall Street Zen cut shares of Seneca Foods from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy".

Seneca Foods Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.72 and a current ratio of 4.34. The stock's 50-day moving average is $139.76 and its 200 day moving average is $123.14. The firm has a market cap of $1.09 billion, a P/E ratio of 12.43 and a beta of 0.03.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $6.48 EPS for the quarter. Seneca Foods had a net margin of 5.58% and a return on equity of 12.30%. The business had revenue of $508.35 million during the quarter.

Institutional Trading of Seneca Foods

Large investors have recently made changes to their positions in the company. Teacher Retirement System of Texas increased its holdings in Seneca Foods by 296.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,360 shares of the company's stock worth $1,334,000 after purchasing an additional 9,241 shares in the last quarter. Allianz Asset Management GmbH bought a new position in Seneca Foods during the 3rd quarter worth about $1,259,000. Assenagon Asset Management S.A. increased its holdings in Seneca Foods by 172.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 28,599 shares of the company's stock worth $3,087,000 after purchasing an additional 18,112 shares in the last quarter. Pacer Advisors Inc. bought a new position in Seneca Foods during the 3rd quarter worth about $4,810,000. Finally, American Century Companies Inc. increased its holdings in Seneca Foods by 29.5% during the 3rd quarter. American Century Companies Inc. now owns 155,727 shares of the company's stock worth $16,809,000 after purchasing an additional 35,480 shares in the last quarter. Institutional investors own 42.51% of the company's stock.

Seneca Foods Company Profile

Seneca Foods Corporation is a leading producer and distributor of shelf-stable fruits, vegetables and fruit‐based products. The company's core activities include the processing, packaging and sale of canned fruits and vegetables, natural fruit juices, apple sauces and fruit‐based snacks. Seneca Foods caters to both retail and foodservice markets, supplying national and international grocers, restaurant chains and food manufacturers with branded and private‐label products.

Seneca Foods operates a network of manufacturing facilities and cold storage warehouses across North America, with key processing plants in New York, Michigan, California and Canada.

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