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

Shares of Seneca Foods Corp. (NASDAQ:SENEA) are set to split on Tuesday, November 17th. The 5-1 split was recently announced. The newly issued shares will be distributed to shareholders after the closing bell on Monday, November 16th.

Seneca Foods Price Performance

Shares of NASDAQ:SENEA opened at $146.70 on Thursday. The stock has a market cap of $993.16 million, a PE ratio of 8.47 and a beta of -0.03. The company’s fifty day moving average is $178.30 and its 200 day moving average is $157.52. Seneca Foods has a 52 week low of $99.58 and a 52 week high of $210.00. The company has a quick ratio of 0.88, a current ratio of 3.77 and a debt-to-equity ratio of 0.26.

Seneca Foods (NASDAQ:SENEA) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $3.82 by $1.25. The business had revenue of $492.59 million during the quarter, compared to the consensus estimate of $506.00 million. Seneca Foods had a net margin of 6.75% and a return on equity of 14.96%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Seneca Foods from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 24th. Weiss Ratings cut Seneca Foods from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 23rd. Finally, Freedom Capital lowered Seneca Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Seneca Foods presently has an average rating of “Moderate Buy”.

Insider Activity

In related 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 $125,551.44. This trade represents a 72.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in shares of Seneca Foods by 28.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 48,758 shares of the company’s stock worth $8,632,000 after buying an additional 10,830 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of Seneca Foods during the third quarter valued at approximately $554,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Seneca Foods during the third quarter valued at approximately $514,000. MGO One Seven LLC purchased a new stake in Seneca Foods in the third quarter worth $259,000. Finally, Pullen Investment Management LLC lifted its stake in Seneca Foods by 0.7% in the third quarter. Pullen Investment Management LLC now owns 20,242 shares of the company’s stock worth $3,603,000 after acquiring an additional 136 shares during the period. Institutional investors own 42.51% of the company’s stock.

About Seneca Foods

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.