Seneca Foods Stock Set to Split on Tuesday, November 17th (NASDAQ:SENEA)

Seneca Foods Corp. (NASDAQ:SENEA)’s stock is scheduled to split on Tuesday, November 17th. The 5-1 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Monday, November 16th.

Seneca Foods Stock Performance

NASDAQ SENEA opened at $146.70 on Thursday. The stock’s fifty day moving average is $178.30 and its two-hundred day moving average is $157.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 3.77. The firm has a market capitalization of $993.16 million, a P/E ratio of 8.47 and a beta of -0.03. Seneca Foods has a fifty-two week low of $99.58 and a fifty-two week high of $210.00.

Seneca Foods (NASDAQ:SENEA) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.82 by $1.25. Seneca Foods had a net margin of 6.75% and a return on equity of 14.96%. The firm had revenue of $492.59 million during the quarter, compared to analyst estimates of $506.00 million.

Analyst Ratings Changes

A number of brokerages have issued reports on SENEA. Weiss Ratings lowered Seneca Foods from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, October 23rd. Wall Street Zen upgraded Seneca Foods from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 24th. Finally, Freedom Capital cut shares of Seneca Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Seneca Foods currently has a consensus rating of “Moderate Buy”.

Insider Activity at Seneca Foods

In other Seneca Foods news, VP Dean Erstad sold 1,587 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $206.16, for a total value of $327,175.92. Following the sale, the vice president directly owned 609 shares of the company’s stock, valued at approximately $125,551.44. This trade represents a 72.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Seneca Foods

Institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC boosted its stake in shares of Seneca Foods by 30.9% in the first quarter. Lazard Asset Management LLC now owns 57,470 shares of the company’s stock valued at $8,685,000 after purchasing an additional 13,564 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Seneca Foods by 28.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 48,758 shares of the company’s stock valued at $8,632,000 after purchasing an additional 10,830 shares during the last quarter. Empowered Funds LLC boosted its position in Seneca Foods by 8.1% during the 1st quarter. Empowered Funds LLC now owns 31,394 shares of the company’s stock worth $4,744,000 after acquiring an additional 2,354 shares during the period. Pullen Investment Management LLC boosted its holdings in shares of Seneca Foods by 0.7% in the third quarter. Pullen Investment Management LLC now owns 20,242 shares of the company’s stock valued at $3,603,000 after acquiring an additional 136 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Seneca Foods by 2.2% in the first quarter. First Trust Advisors LP now owns 19,039 shares of the company’s stock worth $2,877,000 after acquiring an additional 407 shares in the last quarter. 42.51% of the stock is currently owned by hedge funds and other institutional investors.

Seneca Foods Company Profile

Seneca Foods Corporation is a U.S.-based food processor and producer of packaged fruits and vegetables. The company supplies retail, food service, industrial and government customers with canned, frozen and prepared foods, including vegetables, fruits, applesauce, snack products and ingredients.

Seneca markets products under brands including Seneca, Libby’s, Green Giant, Aunt Nellie’s, READ and CherryMan, while also producing private-label goods for retailers and other food companies. Its product portfolio includes canned and frozen vegetables, fruit products, shelf-stable meals and ingredients used by commercial food manufacturers.

Founded in 1949 and headquartered in Marion, New York, Seneca operates processing and distribution facilities primarily in the United States and sources agricultural products from North American growing regions.