Seneca Foods (NASDAQ:SENEA) Hits New 1-Year High – Should You Buy?

Seneca Foods Corp. (NASDAQ:SENEA)’s share price hit a new 52-week high on Saturday . The stock traded as high as $201.93 and last traded at $199.84, with a volume of 109568 shares. The stock had previously closed at $192.22.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Freedom Capital downgraded Seneca Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. 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. Finally, Wall Street Zen lowered shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 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.com, the company has a consensus rating of “Moderate Buy”.

Seneca Foods Trading Up 4.0%

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 firm has a 50 day moving average price of $176.86 and a 200 day moving average price of $155.05. The stock has a market capitalization of $1.35 billion, a PE ratio of 11.54 and a beta of -0.07.

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

Hedge Funds Weigh In On Seneca Foods

A number of hedge funds have recently bought and sold shares of SENEA. California State Teachers Retirement System grew its stake in shares of Seneca Foods by 20,313.7% in the 2nd quarter. California State Teachers Retirement System now owns 887,790 shares of the company’s stock worth $154,422,000 after acquiring an additional 883,441 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Seneca Foods by 667.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 46,501 shares of the company’s stock valued at $4,717,000 after purchasing an additional 40,442 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Seneca Foods by 231.9% during the third quarter. Lazard Asset Management LLC now owns 46,709 shares of the company’s stock valued at $5,042,000 after purchasing an additional 32,635 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Seneca Foods by 10.0% during the third quarter. Vanguard Group Inc. now owns 351,033 shares of the company’s stock worth $37,891,000 after purchasing an additional 31,873 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Seneca Foods by 47.5% during the third quarter. Millennium Management LLC now owns 53,608 shares of the company’s stock worth $5,786,000 after purchasing an additional 17,271 shares during the last quarter. 42.51% of the stock is owned by hedge funds and other institutional investors.

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.