Seneca Foods (NASDAQ:SENEA) Sets New 52-Week High – Here’s Why

Seneca Foods Corp. (NASDAQ:SENEA) hit a new 52-week high on Friday . The company traded as high as $134.14 and last traded at $121.0650, with a volume of 34088 shares changing hands. The stock had previously closed at $119.70.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen lowered Seneca Foods from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 1st. Weiss Ratings restated a “buy (b)” rating on shares of Seneca Foods in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Seneca Foods Stock Up 0.7%

The stock has a market cap of $824.84 million, a PE ratio of 13.99 and a beta of 0.11. 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 company has a 50 day moving average price of $114.22 and a two-hundred day moving average price of $111.78.

Seneca Foods (NASDAQ:SENEA) last released its quarterly earnings data on Thursday, February 5th. The company reported $6.48 EPS for the quarter. The company had revenue of $508.35 million during the quarter. Seneca Foods had a return on equity of 9.68% and a net margin of 3.73%.

Institutional Investors Weigh In On Seneca Foods

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new position in shares of Seneca Foods in the 3rd quarter worth $28,000. EverSource Wealth Advisors LLC purchased a new position in Seneca Foods in the second quarter worth about $36,000. New York State Teachers Retirement System bought a new stake in shares of Seneca Foods during the 2nd quarter valued at about $43,000. CWM LLC increased its position in shares of Seneca Foods by 75.9% during the 3rd quarter. CWM LLC now owns 475 shares of the company’s stock valued at $51,000 after purchasing an additional 205 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Seneca Foods during the 3rd quarter valued at about $57,000. 42.51% of the stock is currently owned by hedge funds and other institutional investors.

About Seneca Foods

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.