Landec Corp. (LNDC) Trading 2% Higher
Landec Corp. (NASDAQ:LNDC)’s share price traded up 2% during mid-day trading on Friday . The company traded as high as $12.81 and last traded at $12.71, with a volume of 109,903 shares. The stock had previously closed at $12.46.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Landec Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Wedbush began coverage on shares of Landec Corp. in a research note on Thursday, July 7th. They set a “neutral” rating and a $12.00 target price for the company. Finally, Maxim Group began coverage on shares of Landec Corp. in a research note on Tuesday, June 7th. They set a “buy” rating and a $16.00 target price for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Landec Corp. currently has an average rating of “Buy” and a consensus target price of $14.32.
The stock’s market cap is $346.04 million. The company’s 50 day moving average price is $12.33 and its 200-day moving average price is $11.24.
Landec Corp. (NASDAQ:LNDC) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The company earned $135.31 million during the quarter, compared to analysts’ expectations of $130.02 million. Landec Corp. had a negative net margin of 2.15% and a positive return on equity of 4.53%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS. On average, equities analysts forecast that Landec Corp. will post $0.57 EPS for the current year.
In related news, Director Gary T. Steele sold 34,484 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $12.47, for a total transaction of $430,015.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Ronald Lane Midyett sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $12.02, for a total transaction of $84,140.00. Following the transaction, the chief operating officer now owns 111,169 shares of the company’s stock, valued at approximately $1,336,251.38. The disclosure for this sale can be found here. 4.89% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Chartwell Investment Partners LLC purchased a new position in Landec Corp. during the second quarter valued at approximately $2,997,000. Royce & Associates LP increased its stake in Landec Corp. by 1.7% in the first quarter. Royce & Associates LP now owns 1,024,601 shares of the company’s stock valued at $10,758,000 after buying an additional 17,465 shares in the last quarter. Franklin Resources Inc. increased its stake in Landec Corp. by 109.5% in the first quarter. Franklin Resources Inc. now owns 2,140,800 shares of the company’s stock valued at $22,478,000 after buying an additional 1,119,000 shares in the last quarter. NWQ Investment Management Company LLC increased its stake in Landec Corp. by 6.7% in the first quarter. NWQ Investment Management Company LLC now owns 2,484,569 shares of the company’s stock valued at $26,088,000 after buying an additional 155,629 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Landec Corp. by 10.7% in the first quarter. Geode Capital Management LLC now owns 190,498 shares of the company’s stock valued at $2,000,000 after buying an additional 18,461 shares in the last quarter. Hedge funds and other institutional investors own 95.26% of the company’s stock.
Landec Corp. Company Profile
Landec Corporation designs, develops, manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology, Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables.
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