Seneca Foods (NASDAQ:SENEA) Shares Down 3.4% – Here’s What Happened

Shares of Seneca Foods Corp. (NASDAQ:SENEA) traded down 3.4% during trading on Tuesday . The stock traded as low as $138.79 and last traded at $141.7060. 11,971 shares traded hands during trading, a decline of 79% from the average session volume of 57,299 shares. The stock had previously closed at $146.71.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Weiss Ratings restated a “buy (b)” rating on shares of Seneca Foods in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Seneca Foods currently has a consensus rating of “Buy”.

Seneca Foods Stock Performance

The firm has a 50 day moving average of $125.85 and a 200-day moving average of $117.34. The company has a market cap of $962.93 million, a P/E ratio of 10.94 and a beta of 0.02. The company has a quick ratio of 0.72, a current ratio of 4.34 and a debt-to-equity ratio of 0.37.

Seneca Foods (NASDAQ:SENEA) last posted its quarterly earnings results on Thursday, February 5th. The company reported $6.48 earnings per share (EPS) for the quarter. Seneca Foods had a return on equity of 12.30% and a net margin of 5.58%.The business had revenue of $508.35 million for the quarter.

Hedge Funds Weigh In On Seneca Foods

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new stake in Seneca Foods during the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC acquired a new position in shares of Seneca Foods during the second quarter worth $36,000. CWM LLC increased its holdings in shares of Seneca Foods by 75.9% during the third quarter. CWM LLC now owns 475 shares of the company’s stock valued at $51,000 after acquiring an additional 205 shares in the last quarter. Quarry LP purchased a new stake in shares of Seneca Foods during the third quarter valued at $57,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Seneca Foods in the 3rd quarter valued at $64,000. 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.