Landec Co. (LNDC) Downgraded by Zacks Investment Research
According to Zacks, “Landec Corporation designs, develops, manufactures and sells temperature-activated and other specialty polymer products for a variety of food products, agricultural products, specialty industrial and medical applications. This proprietary polymer technology is the foundation, and a key differentiating advantage, upon which they have built their business. “
Separately, Wedbush initiated coverage on shares of Landec in a research report on Tuesday, December 20th. They set a neutral rating and a $13.00 target price on the stock.
Landec (NASDAQ:LNDC) remained flat at $12.60 during mid-day trading on Wednesday. 130,196 shares of the company were exchanged. Landec has a 52-week low of $9.68 and a 52-week high of $15.50. The stock’s 50 day moving average price is $12.71 and its 200 day moving average price is $13.29. The stock’s market cap is $343.60 million.
Landec (NASDAQ:LNDC) last issued its earnings results on Wednesday, January 4th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.01. The company had revenue of $135.90 million for the quarter. Landec had a positive return on equity of 4.52% and a negative net margin of 2.22%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, equities analysts predict that Landec will post $0.55 earnings per share for the current year.
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In related news, insider Larry D. Hiebert sold 11,704 shares of Landec stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $12.59, for a total transaction of $147,353.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Steven P. Bitler sold 2,574 shares of Landec stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $12.26, for a total transaction of $31,557.24. The disclosure for this sale can be found here. Company insiders own 4.89% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Wynnefield Capital Inc. acquired a new position in shares of Landec during the fourth quarter valued at about $37,016,000. Russell Investments Group Ltd. acquired a new position in shares of Landec during the fourth quarter valued at about $2,100,000. Thomson Horstmann & Bryant Inc. raised its position in shares of Landec by 13.7% in the third quarter. Thomson Horstmann & Bryant Inc. now owns 871,810 shares of the company’s stock valued at $11,690,000 after buying an additional 105,210 shares during the last quarter. Granite Investment Partners LLC raised its position in shares of Landec by 27.7% in the third quarter. Granite Investment Partners LLC now owns 290,392 shares of the company’s stock valued at $3,894,000 after buying an additional 63,067 shares during the last quarter. Finally, Neuberger Berman Group LLC acquired a new position in shares of Landec during the third quarter valued at about $565,000. 92.09% of the stock is currently owned by institutional investors.
Landec Corporation designs, develops, manufactures and sells a range of health and wellness products for food and biomaterials markets. The Company licenses technology applications to partners. The Company operates through three segments: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry.
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