Seneca Foods (NASDAQ:SENEA) Stock Scheduled to Split on Tuesday, November 17th

Key Points

• Seneca Foods will undergo a 5-for-1 stock split on Tuesday, November 17, with the additional shares payable after the market closes November 16.
• The company reported quarterly EPS of $5.07, beating the $3.82 consensus, while revenue of $492.59 million fell short of the $506 million estimate.
• Shares were reported down 4.6%; analysts’ average rating is Moderate Buy, with one Buy and one Hold rating.

Shares of Seneca Foods Corp. (NASDAQ:SENEA - Free Report) are scheduled to split on the morning of Tuesday, November 17th. The 5-1 split was recently announced. The newly issued shares will be payable to shareholders after the closing bell on Monday, November 16th.

Seneca Foods Stock Down 4.6%

Shares of NASDAQ SENEA opened at $146.70 on Thursday. Seneca Foods has a 52 week low of $99.58 and a 52 week high of $210.00. The business has a 50-day simple moving average of $178.30 and a two-hundred day simple moving average of $157.52. The company has a quick ratio of 0.88, a current ratio of 3.77 and a debt-to-equity ratio of 0.26. The company has a market cap of $993.16 million, a P/E ratio of 8.47 and a beta of -0.03.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $5.07 EPS for the quarter, topping the consensus estimate of $3.82 by $1.25. The business had revenue of $492.59 million during the quarter, compared to the consensus estimate of $506.00 million. Seneca Foods had a return on equity of 14.96% and a net margin of 6.75%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SENEA. Freedom Capital cut shares of Seneca Foods from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Weiss Ratings lowered shares of Seneca Foods from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, October 23rd. Finally, Wall Street Zen upgraded shares of Seneca Foods from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 24th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Seneca Foods presently has an average rating of "Moderate Buy".

Insider Buying and Selling at Seneca Foods

In other Seneca Foods news, VP Dean Erstad sold 1,587 shares of the firm's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $206.16, for a total value of $327,175.92. Following the sale, the vice president owned 609 shares of the company's stock, valued at $125,551.44. This trade represents a 72.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SENEA. Lazard Asset Management LLC lifted its holdings in shares of Seneca Foods by 30.9% during the 1st quarter. Lazard Asset Management LLC now owns 57,470 shares of the company's stock worth $8,685,000 after acquiring an additional 13,564 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Seneca Foods by 28.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 48,758 shares of the company's stock valued at $8,632,000 after acquiring an additional 10,830 shares during the last quarter. Empowered Funds LLC raised its position in Seneca Foods by 8.1% during the first quarter. Empowered Funds LLC now owns 31,394 shares of the company's stock valued at $4,744,000 after purchasing an additional 2,354 shares in the last quarter. Pullen Investment Management LLC lifted its stake in Seneca Foods by 0.7% during the third quarter. Pullen Investment Management LLC now owns 20,242 shares of the company's stock worth $3,603,000 after purchasing an additional 136 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Seneca Foods by 2.2% in the first quarter. First Trust Advisors LP now owns 19,039 shares of the company's stock worth $2,877,000 after buying an additional 407 shares in the last quarter. 42.51% of the stock is currently owned by institutional investors.

About Seneca Foods

Seneca Foods Corporation is a U.S.-based food processor and producer of packaged fruits and vegetables. The company supplies retail, food service, industrial and government customers with canned, frozen and prepared foods, including vegetables, fruits, applesauce, snack products and ingredients.

Seneca markets products under brands including Seneca, Libby's, Green Giant, Aunt Nellie's, READ and CherryMan, while also producing private-label goods for retailers and other food companies. Its product portfolio includes canned and frozen vegetables, fruit products, shelf-stable meals and ingredients used by commercial food manufacturers.

Founded in 1949 and headquartered in Marion, New York, Seneca operates processing and distribution facilities primarily in the United States and sources agricultural products from North American growing regions.

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