Seneca Foods (NASDAQ:SENEA) Releases Quarterly Earnings Results
Seneca Foods (NASDAQ:SENEA) reported quarterly earnings of $3.46 per share, with a net margin of 2.76% and a return on equity of 10.07%. The stock fell 1.7% to $101.18, with a market cap of $694.50 million. Institutional investors hold 42.51% of the stock. Analysts have downgraded the stock to a "hold" rating, with a consensus rating of "hold". The company provides packaged fruits and vegetables under various brands.
Seneca Foods (NASDAQ:SENEA - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $3.46 earnings per share (EPS) for the quarter, Zacks reports. Seneca Foods had a net margin of 2.76% and a return on equity of 10.07%.
Seneca Foods Stock Down 1.7%
Shares of Seneca Foods stock traded down $1.75 during midday trading on Wednesday, hitting $101.18. The company had a trading volume of 42,596 shares, compared to its average volume of 46,756. Seneca Foods has a 52-week low of $63.40 and a 52-week high of $124.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.66 and a current ratio of 4.11. The stock has a market capitalization of $694.50 million, a P/E ratio of 16.24 and a beta of 0.19. The company has a 50 day moving average of $111.08 and a 200 day moving average of $101.99.
Institutional Investors Weigh In On Seneca Foods
Hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming increased its holdings in shares of Seneca Foods by 102.3% during the second quarter. State of Wyoming now owns 3,718 shares of the company's stock valued at $377,000 after acquiring an additional 1,880 shares in the last quarter. Tidal Investments LLC boosted its stake in Seneca Foods by 29.7% in the 2nd quarter. Tidal Investments LLC now owns 4,225 shares of the company's stock worth $429,000 after purchasing an additional 967 shares in the last quarter. Oxford Asset Management LLP purchased a new stake in Seneca Foods during the 2nd quarter valued at about $226,000. Man Group plc bought a new stake in Seneca Foods during the 2nd quarter valued at about $817,000. Finally, Lazard Asset Management LLC increased its stake in Seneca Foods by 16.6% during the 2nd quarter. Lazard Asset Management LLC now owns 14,074 shares of the company's stock valued at $1,427,000 after purchasing an additional 2,005 shares in the last quarter. 42.51% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on SENEA. Wall Street Zen downgraded Seneca Foods from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Weiss Ratings lowered Seneca Foods from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Saturday, October 25th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Seneca Foods currently has a consensus rating of "Hold".
Read Our Latest Stock Analysis on SENEA
Seneca Foods Company Profile
(Get Free Report)Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. The company offers canned, frozen, and jarred produce; jarred fruit; and snack chips and other food products under the private label, as well as under various national and regional brands that the company owns or licenses, including Seneca, Libby's, Aunt Nellie's, Cherryman, Green Valley, and READ.
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