Cadence Capital Management LLC Boosts Holdings in Landec Corporation (LNDC)
Cadence Capital Management LLC raised its stake in Landec Corporation (NASDAQ:LNDC) by 88.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,996 shares of the basic materials company’s stock after buying an additional 22,986 shares during the period. Cadence Capital Management LLC owned approximately 0.18% of Landec worth $634,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Citigroup Inc. increased its holdings in shares of Landec by 489.6% in the second quarter. Citigroup Inc. now owns 9,840 shares of the basic materials company’s stock valued at $146,000 after buying an additional 8,171 shares in the last quarter. Acrospire Investment Management LLC increased its holdings in shares of Landec by 185.8% in the second quarter. Acrospire Investment Management LLC now owns 10,722 shares of the basic materials company’s stock valued at $159,000 after buying an additional 6,971 shares in the last quarter. Eagle Global Advisors LLC bought a new position in shares of Landec in the second quarter valued at $161,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Landec in the third quarter valued at $141,000. Finally, Zacks Investment Management bought a new position in shares of Landec in the second quarter valued at $167,000. 93.83% of the stock is currently owned by institutional investors.
Shares of Landec Corporation (LNDC) opened at $12.10 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.04 and a current ratio of 1.53. Landec Corporation has a one year low of $11.20 and a one year high of $15.50. The stock has a market cap of $332.83, a price-to-earnings ratio of 34.57 and a beta of 1.23.
Landec (NASDAQ:LNDC) last announced its earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. Landec had a net margin of 1.80% and a return on equity of 4.17%. The company had revenue of $123.40 million for the quarter, compared to the consensus estimate of $123.00 million. During the same period in the previous year, the business earned $0.12 EPS. The company’s revenue was down 6.8% on a year-over-year basis. equities research analysts anticipate that Landec Corporation will post 0.54 earnings per share for the current year.
In other Landec news, CEO Molly Hemmeter sold 7,399 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total transaction of $96,630.94. Following the sale, the chief executive officer now directly owns 53,017 shares of the company’s stock, valued at approximately $692,402.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.62% of the stock is owned by insiders.
Several research firms have issued reports on LNDC. BidaskClub cut Landec from a “sell” rating to a “strong sell” rating in a report on Tuesday. Maxim Group reaffirmed a “buy” rating and issued a $18.00 price target on shares of Landec in a report on Wednesday, November 29th. Wedbush reissued a “hold” rating and set a $13.00 target price on shares of Landec in a research note on Thursday, September 28th. Finally, Zacks Investment Research raised shares of Landec from a “sell” rating to a “hold” rating and set a $15.00 target price on the stock in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $15.33.
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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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