Seneca Foods (NASDAQ:SENEA) Hits New 52-Week High - Here's Why

Key Points

• Seneca Foods Corp. achieved a new 52-week high with stock trading at $110.10, closing at $108.71, amid a trading volume of 38,060 shares.
• Wall Street Zen downgraded Seneca Foods from a "buy" to a "hold" rating shortly after their earnings report showed $0.86 earnings per share and revenue of $297.46 million for the quarter.
• Institutional investors hold 42.51% of Seneca Foods' stock, with several firms acquiring new positions in the company during recent quarters.

Shares of Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $110.10 and last traded at $108.71, with a volume of 38060 shares changing hands. The stock had previously closed at $108.78.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Seneca Foods from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th.

Seneca Foods Price Performance

The firm has a market cap of $776.55 million, a P/E ratio of 18.17 and a beta of 0.38. 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 stock's 50-day simple moving average is $103.44 and its two-hundred day simple moving average is $92.80.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its stake in Seneca Foods by 69.5% in the 2nd quarter. American Century Companies Inc. now owns 120,247 shares of the company's stock worth $12,197,000 after acquiring an additional 49,318 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Seneca Foods by 667.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 46,501 shares of the company's stock worth $4,717,000 after acquiring an additional 40,442 shares in the last quarter. Shufro Rose & Co. LLC lifted its position in shares of Seneca Foods by 259.1% during the first quarter. Shufro Rose & Co. LLC now owns 34,650 shares of the company's stock valued at $3,085,000 after buying an additional 25,000 shares during the last quarter. Invesco Ltd. boosted its stake in Seneca Foods by 80.0% in the first quarter. Invesco Ltd. now owns 52,492 shares of the company's stock valued at $4,674,000 after acquiring an additional 23,329 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Seneca Foods by 12,377.1% in the 1st quarter. GAMMA Investing LLC now owns 19,589 shares of the company's stock worth $1,744,000 after purchasing an additional 19,432 shares in 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.