Seneca Foods (NASDAQ:SENEA) Stock Price Down 6% - What's Next?

Key Points

• Shares of Seneca Foods fell about 6% on Thursday to roughly $146.59, with trading volume approximately 69% below the stock's average daily volume.
• Wall Street firms still show a consensus Buy rating—some retailers trimmed ratings (e.g., Wall Street Zen from "strong-buy" to "buy") while Weiss reiterated a "buy."
• Most recent quarter showed $6.48 EPS on $508.35M revenue; the stock trades at a P/E of 10.79, market cap ≈ $949M, and about 42.5% is owned by institutions.

Shares of Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report) were down 6% on Thursday . The company traded as low as $149.63 and last traded at $146.5850. Approximately 24,110 shares changed hands during trading, a decline of 69% from the average daily volume of 77,898 shares. The stock had previously closed at $156.01.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SENEA. Wall Street Zen lowered Seneca Foods from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Seneca Foods in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy".

Seneca Foods Stock Down 10.1%

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 firm's 50-day moving average is $142.23 and its two-hundred day moving average is $124.17. The stock has a market cap of $949.14 million, a P/E ratio of 10.79 and a beta of 0.03.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last issued its earnings results 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 company had revenue of $508.35 million during the quarter.

Hedge Funds Weigh In On Seneca Foods

A number of hedge funds have recently bought and sold shares of SENEA. Vanguard Group Inc. increased its stake in Seneca Foods by 10.0% in the third quarter. Vanguard Group Inc. now owns 351,033 shares of the company's stock valued at $37,891,000 after acquiring an additional 31,873 shares during the last quarter. American Century Companies Inc. increased its stake in Seneca Foods by 29.5% in the third quarter. American Century Companies Inc. now owns 155,727 shares of the company's stock valued at $16,809,000 after acquiring an additional 35,480 shares during the last quarter. Geode Capital Management LLC increased its stake in Seneca Foods by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 138,182 shares of the company's stock valued at $15,289,000 after acquiring an additional 516 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Seneca Foods by 12.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,203 shares of the company's stock valued at $12,192,000 after acquiring an additional 12,409 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Seneca Foods by 31.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 61,222 shares of the company's stock valued at $6,608,000 after acquiring an additional 14,721 shares during the last quarter. 42.51% of the stock is owned by institutional investors.

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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