Weiss Ratings Reaffirms Buy (B-) Rating for Seneca Foods (NASDAQ:SENEA)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B-)" rating for Seneca Foods (NASDAQ:SENEA), indicating continued investor confidence despite a recent downgrade from Wall Street Zen to a "hold" rating.
• Seneca Foods reported quarterly earnings of $0.86 earnings per share (EPS) with a revenue of $297.46 million, reflecting a net margin of 2.76% and a return on equity of 10.07%.
• Institutional investors currently hold 42.51% of Seneca Foods' stock, with notable recent increases in stake by several firms, including MIRAE ASSET GLOBAL ETFS and Russell Investments Group.

Seneca Foods (NASDAQ:SENEA - Get Free Report)'s stock had its "buy (b-)" rating restated by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

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. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy".

Seneca Foods Price Performance

SENEA stock opened at $112.05 on Wednesday. Seneca Foods has a 1 year low of $60.92 and a 1 year high of $115.40. The company has a market cap of $769.11 million, a P/E ratio of 17.99 and a beta of 0.19. The firm has a 50-day moving average of $107.66 and a 200 day moving average of $97.88. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.11 and a quick ratio of 0.66.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.86 earnings per share (EPS) for the quarter. Seneca Foods had a net margin of 2.76% and a return on equity of 10.07%. The company had revenue of $297.46 million during the quarter.

Hedge Funds Weigh In On Seneca Foods

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Seneca Foods by 5.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,813 shares of the company's stock valued at $250,000 after purchasing an additional 156 shares in the last quarter. Pullen Investment Management LLC increased its position in shares of Seneca Foods by 0.9% during the second quarter. Pullen Investment Management LLC now owns 28,806 shares of the company's stock valued at $2,922,000 after acquiring an additional 247 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Seneca Foods by 36.8% during the second quarter. Russell Investments Group Ltd. now owns 993 shares of the company's stock valued at $101,000 after acquiring an additional 267 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Seneca Foods by 3.8% during the second quarter. Prudential Financial Inc. now owns 8,375 shares of the company's stock valued at $849,000 after acquiring an additional 304 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Seneca Foods during the second quarter valued at approximately $36,000. Institutional investors own 42.51% of the company's stock.

About Seneca Foods

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.

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