Seneca Foods (NASDAQ:SENEA) Sets New 52-Week High - Here's What Happened

Key Points

• Seneca Foods stock hit a new 52-week high of $146.95, last trading around $145.66 and was up about 2.1% on the session.
• Analyst coverage is generally positive with a MarketBeat consensus of Buy—Weiss Ratings reissued a buy and Wall Street Zen moved the name from "strong-buy" to "buy."
• In the most recent quarter Seneca reported $6.48 EPS on $508.35M revenue, has a PE of 11.33 and a market cap of roughly $997M, with institutional investors owning about 42.5% of the stock.

Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $146.95 and last traded at $145.6620, with a volume of 40476 shares. The stock had previously closed at $144.26.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SENEA shares. Weiss Ratings reissued a "buy (b)" rating on shares of Seneca Foods in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Seneca Foods from a "strong-buy" rating to a "buy" rating in a research note on Sunday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

Seneca Foods Stock Up 2.1%

The company has a debt-to-equity ratio of 0.37, a current ratio of 4.34 and a quick ratio of 0.72. The stock has a market capitalization of $996.81 million, a PE ratio of 11.33 and a beta of 0.02. The company has a 50 day moving average price of $123.69 and a 200-day moving average price of $116.57.

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

Hedge Funds Weigh In On Seneca Foods

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. lifted its holdings in Seneca Foods by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 45,456 shares of the company's stock worth $5,029,000 after buying an additional 896 shares during the period. Empowered Funds LLC boosted its position in Seneca Foods by 7.5% during the 4th quarter. Empowered Funds LLC now owns 29,040 shares of the company's stock valued at $3,213,000 after acquiring an additional 2,026 shares in the last quarter. Susquehanna Portfolio Strategies LLC grew its holdings in shares of Seneca Foods by 49.3% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 12,489 shares of the company's stock worth $1,382,000 after acquiring an additional 4,125 shares during the period. Polymer Capital Management US LLC bought a new position in shares of Seneca Foods in the 4th quarter worth approximately $351,000. Finally, Gotham Asset Management LLC raised its position in shares of Seneca Foods by 43.0% in the 4th quarter. Gotham Asset Management LLC now owns 4,463 shares of the company's stock worth $494,000 after acquiring an additional 1,342 shares in the last quarter. Hedge funds and other institutional investors own 42.51% of the company's stock.

About Seneca Foods

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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