Seneca Foods (NASDAQ:SENEA) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Seneca Foods was upgraded by Wall Street Zen from "buy" to "strong-buy", while Weiss Ratings also reiterated a buy rating. Overall, MarketBeat says the stock’s consensus rating remains "Buy".
• The stock opened at $138.40 and has traded between a 12-month low of $85.20 and a high of $167.51. Seneca Foods currently has a market cap of about $936.97 million and a PE ratio of 10.65.
• In its latest quarterly report, Seneca Foods posted $6.48 EPS on $508.35 million in revenue, with 12.30% return on equity and a 5.58% net margin. Institutional investors also hold a meaningful stake, owning 42.51% of the company.

Seneca Foods (NASDAQ:SENEA - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Monday.

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Seneca Foods in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy".

Seneca Foods Stock Performance

Shares of NASDAQ:SENEA opened at $138.40 on Monday. Seneca Foods has a 12-month low of $85.20 and a 12-month high of $167.51. The business's fifty day simple moving average is $145.49 and its 200-day simple moving average is $126.63. The company has a market capitalization of $936.97 million, a PE ratio of 10.65 and a beta of -0.03. The company has a current ratio of 4.34, a quick ratio of 0.72 and a debt-to-equity ratio of 0.37.

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

Institutional Trading of Seneca Foods

Institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas boosted its position in shares of Seneca Foods by 296.3% in 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 purchased a new position in shares of Seneca Foods in the third quarter worth $1,259,000. American Century Companies Inc. raised its holdings in shares of Seneca Foods by 29.5% in the third quarter. American Century Companies Inc. now owns 155,727 shares of the company's stock worth $16,809,000 after buying an additional 35,480 shares during the last quarter. EVR Research LP purchased a new position in shares of Seneca Foods in the third quarter worth $2,267,000. Finally, Pullen Investment Management LLC raised its holdings in shares of Seneca Foods by 16.4% in the third quarter. Pullen Investment Management LLC now owns 33,526 shares of the company's stock worth $3,619,000 after buying an additional 4,720 shares during the last quarter. Institutional investors and hedge funds 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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