Seneca Foods (NASDAQ:SENEA) Announces Earnings Results

Seneca Foods (NASDAQ:SENEA) issued its earnings results on Thursday. The company reported $6.48 earnings per share (EPS) for the quarter, FiscalAI reports. Seneca Foods had a return on equity of 9.68% and a net margin of 3.73%.The business had revenue of $508.35 million during the quarter.

Seneca Foods Stock Performance

Shares of SENEA stock traded up $1.49 on Thursday, hitting $119.70. The company’s stock had a trading volume of 37,078 shares, compared to its average volume of 42,660. The stock’s 50 day moving average is $114.21 and its 200-day moving average is $111.72. Seneca Foods has a fifty-two week low of $70.98 and a fifty-two week high of $129.03. The company has a market capitalization of $818.75 million, a PE ratio of 13.89 and a beta of 0.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 2.59.

Analyst Upgrades and Downgrades

SENEA has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Seneca Foods in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a research note on Sunday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Seneca Foods has a consensus rating of “Buy”.

Institutional Investors Weigh In On Seneca Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of SENEA. Ballentine Partners LLC lifted its stake in Seneca Foods by 3.2% in the fourth quarter. Ballentine Partners LLC now owns 2,862 shares of the company’s stock valued at $317,000 after buying an additional 89 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Seneca Foods by 5.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,813 shares of the company’s stock worth $250,000 after acquiring an additional 156 shares during the period. Pullen Investment Management LLC increased its stake in Seneca Foods by 0.5% in the 4th quarter. Pullen Investment Management LLC now owns 33,694 shares of the company’s stock worth $3,728,000 after acquiring an additional 168 shares during the last quarter. CWM LLC boosted its holdings in shares of Seneca Foods by 75.9% in the 3rd quarter. CWM LLC now owns 475 shares of the company’s stock worth $51,000 after purchasing an additional 205 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Seneca Foods by 34.8% in the third quarter. Van ECK Associates Corp now owns 818 shares of the company’s stock worth $88,000 after buying an additional 211 shares during the period. Institutional investors 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.