Seneca Foods (NASDAQ:SENEA) Reaches New 52-Week High – What’s Next?

Shares of Seneca Foods Corp. (NASDAQ:SENEA) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $146.16 and last traded at $146.16, with a volume of 39861 shares traded. The stock had previously closed at $139.81.

Wall Street Analyst Weigh In

SENEA has been the topic of several recent research reports. Wall Street Zen raised Seneca Foods from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Weiss Ratings restated a “buy (b)” rating on shares of Seneca Foods in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy”.

Seneca Foods Stock Performance

The stock has a market capitalization of $948.88 million, a price-to-earnings ratio of 10.78 and a beta of 0.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.34 and a quick ratio of 0.72. The firm has a fifty day moving average of $121.76 and a 200 day moving average of $115.78.

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

Hedge Funds Weigh In On Seneca Foods

A number of institutional investors and hedge funds have recently bought and sold shares of SENEA. Vanguard Group Inc. increased its holdings in shares of Seneca Foods by 10.0% in the third quarter. Vanguard Group Inc. now owns 351,033 shares of the company’s stock valued at $37,891,000 after purchasing an additional 31,873 shares during the last quarter. American Century Companies Inc. grew its holdings in Seneca Foods by 29.5% in the 3rd quarter. American Century Companies Inc. now owns 155,727 shares of the company’s stock valued at $16,809,000 after buying an additional 35,480 shares in the last quarter. Geode Capital Management LLC grew its holdings in Seneca Foods by 8.0% in the 2nd quarter. Geode Capital Management LLC now owns 139,457 shares of the company’s stock valued at $14,146,000 after buying an additional 10,357 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Seneca Foods by 12.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,203 shares of the company’s stock worth $12,192,000 after acquiring an additional 12,409 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Seneca Foods by 31.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 61,222 shares of the company’s stock worth $6,608,000 after purchasing an additional 14,721 shares during the last quarter. 42.51% of the stock is currently owned by institutional investors and hedge funds.

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.