Seneca Foods (NASDAQ:SENEA) Issues Quarterly Earnings Results

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

Seneca Foods Price Performance

NASDAQ SENEA opened at $119.70 on Friday. The stock has a market capitalization of $818.75 million, a price-to-earnings ratio of 13.89 and a beta of 0.11. Seneca Foods has a 1-year low of $70.98 and a 1-year high of $129.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.59 and a quick ratio of 0.42. The business’s fifty day moving average price is $114.22 and its 200-day moving average price is $111.78.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas increased its holdings in Seneca Foods by 35.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,119 shares of the company’s stock worth $316,000 after acquiring an additional 811 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Seneca Foods by 172.7% during the third quarter. Assenagon Asset Management S.A. now owns 28,599 shares of the company’s stock valued at $3,087,000 after acquiring an additional 18,112 shares during the period. American Century Companies Inc. lifted its position in shares of Seneca Foods by 69.5% in the second quarter. American Century Companies Inc. now owns 120,247 shares of the company’s stock valued at $12,197,000 after acquiring an additional 49,318 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of Seneca Foods in the second quarter worth about $787,000. Finally, Geode Capital Management LLC raised its stake in Seneca Foods by 8.0% during the 2nd quarter. Geode Capital Management LLC now owns 139,457 shares of the company’s stock valued at $14,146,000 after purchasing an additional 10,357 shares during the period. 42.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Seneca Foods in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Seneca Foods presently has a consensus rating of “Buy”.

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.