Seneca Foods (NASDAQ:SENEA) Issues Quarterly Earnings Results

Seneca Foods (NASDAQ:SENEA) released its earnings results on Thursday. The company reported $3.70 earnings per share for the quarter, FiscalAI reports. Seneca Foods had a return on equity of 12.30% and a net margin of 5.58%.The firm had revenue of $393.85 million for the quarter.

Seneca Foods Stock Up 1.0%

Shares of NASDAQ SENEA traded up $1.48 during mid-day trading on Thursday, reaching $149.43. 170,423 shares of the company’s stock were exchanged, compared to its average volume of 96,423. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 11.49 and a beta of -0.03. The company has a current ratio of 4.34, a quick ratio of 0.72 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $144.95 and a 200 day simple moving average of $131.33. Seneca Foods has a twelve month low of $85.20 and a twelve month high of $167.51.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Seneca Foods in a research note on Friday, April 24th. Wall Street Zen lowered Seneca Foods from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 4th. Finally, Freedom Capital raised Seneca Foods to a “strong-buy” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Strong Buy”.

Institutional Investors Weigh In On Seneca Foods

A number of hedge funds have recently modified their holdings of SENEA. Allianz Asset Management GmbH bought a new position in shares of Seneca Foods during the 3rd quarter worth approximately $1,259,000. Teacher Retirement System of Texas grew its stake in shares of Seneca Foods by 75.0% during the 4th quarter. Teacher Retirement System of Texas now owns 21,633 shares of the company’s stock worth $2,393,000 after acquiring an additional 9,273 shares in the last quarter. American Century Companies Inc. increased its position in shares of Seneca Foods by 29.5% during the 3rd quarter. American Century Companies Inc. now owns 155,727 shares of the company’s stock worth $16,809,000 after purchasing an additional 35,480 shares during the last quarter. EVR Research LP acquired a new position in shares of Seneca Foods during the 3rd quarter worth approximately $2,267,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Seneca Foods during the 3rd quarter worth approximately $480,000. Institutional investors and hedge funds own 42.51% of the company’s stock.

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.