Principal Financial Group Inc. Invests $480,000 in Seneca Foods Corp. $SENEA

Principal Financial Group Inc. bought a new stake in Seneca Foods Corp. (NASDAQ:SENEA) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 4,446 shares of the company’s stock, valued at approximately $480,000.

A number of other hedge funds have also recently added to or reduced their stakes in SENEA. State of Alaska Department of Revenue purchased a new position in Seneca Foods in the third quarter valued at $28,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Seneca Foods during the 2nd quarter worth about $36,000. New York State Teachers Retirement System acquired a new stake in shares of Seneca Foods during the 2nd quarter valued at about $43,000. CWM LLC increased its stake in shares of Seneca Foods by 75.9% in the 3rd quarter. CWM LLC now owns 475 shares of the company’s stock valued at $51,000 after purchasing an additional 205 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Seneca Foods by 36.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock worth $101,000 after purchasing an additional 267 shares during the period. 42.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SENEA. Weiss Ratings reissued a “buy (b)” rating on shares of Seneca Foods in a report on Monday, December 29th. Wall Street Zen lowered Seneca Foods from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 1st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Seneca Foods Stock Performance

NASDAQ SENEA opened at $126.36 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.34 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $115.99 and its 200-day simple moving average is $113.19. The company has a market cap of $855.46 million, a PE ratio of 9.72 and a beta of 0.11. Seneca Foods Corp. has a 1-year low of $77.08 and a 1-year high of $134.14.

Seneca Foods (NASDAQ:SENEA) last issued its quarterly earnings results on Thursday, February 5th. The company reported $6.48 EPS for the quarter. The firm had revenue of $508.35 million during the quarter. Seneca Foods had a return on equity of 12.30% and a net margin of 5.58%.

Seneca Foods Profile

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.