Wedge Capital Management L L P NC Makes New Investment in Seneca Foods Corp. $SENEA

Wedge Capital Management L L P NC acquired a new stake in Seneca Foods Corp. (NASDAQ:SENEA) in the second quarter, HoldingsChannel reports. The institutional investor acquired 10,393 shares of the company’s stock, valued at approximately $1,808,000.

Several other large investors also recently modified their holdings of SENEA. Hsbc Holdings PLC acquired a new position in shares of Seneca Foods in the fourth quarter worth about $722,000. Teacher Retirement System of Texas boosted its holdings in Seneca Foods by 75.0% in the fourth quarter. Teacher Retirement System of Texas now owns 21,633 shares of the company’s stock valued at $2,393,000 after purchasing an additional 9,273 shares during the last quarter. Range Financial Group LLC acquired a new stake in Seneca Foods during the 1st quarter valued at approximately $1,140,000. Lazard Asset Management LLC grew its stake in Seneca Foods by 30.9% during the 1st quarter. Lazard Asset Management LLC now owns 57,470 shares of the company’s stock valued at $8,685,000 after purchasing an additional 13,564 shares in the last quarter. Finally, Draper Asset Management LLC purchased a new stake in Seneca Foods during the 1st quarter worth approximately $987,000. 42.51% of the stock is currently owned by institutional investors and hedge funds.

Seneca Foods Stock Performance

Shares of Seneca Foods stock opened at $191.70 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 3.77. Seneca Foods Corp. has a 1 year low of $99.58 and a 1 year high of $196.39. The firm’s 50-day simple moving average is $169.61 and its 200-day simple moving average is $149.85. The firm has a market cap of $1.30 billion, a PE ratio of 11.07 and a beta of -0.07.

Seneca Foods (NASDAQ:SENEA) last posted its quarterly earnings results on Thursday, August 6th. The company reported $2.85 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($0.07). The firm had revenue of $405.17 million during the quarter, compared to analyst estimates of $327.00 million. Seneca Foods had a return on equity of 14.96% and a net margin of 6.75%.

Wall Street Analysts Forecast Growth

SENEA has been the topic of a number of recent analyst reports. Freedom Capital lowered Seneca Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Wall Street Zen downgraded shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings raised shares of Seneca Foods from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Seneca Foods 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.