Algert Global LLC trimmed its holdings in shares of Landec Co. (NASDAQ:LNDC) by 60.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,172 shares of the basic materials company’s stock after selling 42,457 shares during the period. Algert Global LLC’s holdings in Landec were worth $346,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of LNDC. AltraVue Capital LLC purchased a new stake in Landec during the fourth quarter valued at about $4,177,000. Signia Capital Management LLC purchased a new stake in shares of Landec during the fourth quarter worth about $2,500,000. Legato Capital Management LLC purchased a new stake in shares of Landec during the fourth quarter worth about $1,058,000. Renaissance Technologies LLC boosted its holdings in shares of Landec by 438.1% during the third quarter. Renaissance Technologies LLC now owns 106,551 shares of the basic materials company’s stock worth $1,534,000 after purchasing an additional 86,751 shares during the period. Finally, Vanguard Group Inc boosted its holdings in shares of Landec by 4.3% during the third quarter. Vanguard Group Inc now owns 1,535,517 shares of the basic materials company’s stock worth $22,112,000 after purchasing an additional 63,494 shares during the period. Institutional investors and hedge funds own 88.31% of the company’s stock.
Landec stock opened at $9.99 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. The stock has a market cap of $297.66 million, a PE ratio of 24.37 and a beta of 0.86. Landec Co. has a 1-year low of $9.90 and a 1-year high of $15.60.
Landec (NASDAQ:LNDC) last posted its earnings results on Wednesday, April 3rd. The basic materials company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. The company had revenue of $155.69 million during the quarter, compared to analyst estimates of $156.47 million. Landec had a net margin of 1.24% and a return on equity of 3.12%. Landec’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. Sell-side analysts predict that Landec Co. will post 0.15 earnings per share for the current year.
In other news, Director Nelson Obus bought 30,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was bought at an average cost of $10.33 per share, for a total transaction of $309,900.00. Following the completion of the acquisition, the director now owns 25,000 shares in the company, valued at approximately $258,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 15.04% of the company’s stock.
A number of research firms have recently weighed in on LNDC. Zacks Investment Research upgraded shares of Landec from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Roth Capital reiterated a “neutral” rating and set a $12.00 target price (down from $16.50) on shares of Landec in a report on Monday, April 8th. BidaskClub lowered shares of Landec from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Finally, ValuEngine lowered shares of Landec from a “buy” rating to a “hold” rating in a report on Monday, February 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $14.50.
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Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through two segments, Packaged Fresh Vegetables and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruits and vegetables utilizing the BreatheWay specialty packaging technology for the retail grocery, club store, and food service industries under the Eat Smart and GreenLine brands, as well as private label brands; and sells BreatheWay packaging technology to partners for fruit and vegetable products.
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