Seneca Foods (NASDAQ:SENEA) Posts Earnings Results

Seneca Foods (NASDAQ:SENEAGet Free Report) issued its quarterly earnings data on Thursday. The company reported $2.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.92 by ($0.07), FiscalAI reports. Seneca Foods had a net margin of 6.75% and a return on equity of 15.28%. The company had revenue of $405.17 million for the quarter, compared to the consensus estimate of $327.00 million.

Seneca Foods Trading Up 7.3%

Seneca Foods stock traded up $12.24 during trading hours on Friday, reaching $178.82. 140,911 shares of the company’s stock traded hands, compared to its average volume of 103,683. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 10.33 and a beta of -0.07. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.07 and a current ratio of 5.06. Seneca Foods has a fifty-two week low of $99.58 and a fifty-two week high of $187.61. The firm’s 50 day moving average is $165.18 and its 200-day moving average is $147.39.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings upgraded shares of Seneca Foods from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 15th. Wall Street Zen raised shares of Seneca Foods from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Finally, Freedom Capital upgraded shares of 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 data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Check Out Our Latest Analysis on SENEA

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its stake in Seneca Foods by 667.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 46,501 shares of the company’s stock valued at $4,717,000 after purchasing an additional 40,442 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Seneca Foods by 231.9% during the third quarter. Lazard Asset Management LLC now owns 46,709 shares of the company’s stock worth $5,042,000 after purchasing an additional 32,635 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Seneca Foods by 10.0% in the 3rd quarter. Vanguard Group Inc. now owns 351,033 shares of the company’s stock valued at $37,891,000 after buying an additional 31,873 shares during the period. Millennium Management LLC grew its holdings in shares of Seneca Foods by 47.5% in the 3rd quarter. Millennium Management LLC now owns 53,608 shares of the company’s stock valued at $5,786,000 after buying an additional 17,271 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Seneca Foods by 12.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,203 shares of the company’s stock valued at $12,192,000 after buying an additional 12,409 shares in the last quarter. Institutional investors and hedge funds own 42.51% of the company’s stock.

About Seneca Foods

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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.

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Earnings History for Seneca Foods (NASDAQ:SENEA)

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