Landec Co. (LNDC) Shares Bought by North Star Investment Management Corp.
North Star Investment Management Corp. increased its stake in Landec Co. (NASDAQ:LNDC) by 17.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,175 shares of the basic materials company’s stock after acquiring an additional 22,300 shares during the quarter. North Star Investment Management Corp.’s holdings in Landec were worth $1,807,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. AltraVue Capital LLC acquired a new stake in Landec in the 4th quarter valued at $4,177,000. Signia Capital Management LLC purchased a new position in shares of Landec in the 4th quarter worth about $2,500,000. Legato Capital Management LLC purchased a new position in shares of Landec in the 4th quarter worth about $1,058,000. Renaissance Technologies LLC raised its stake in Landec by 438.1% in the 3rd quarter. Renaissance Technologies LLC now owns 106,551 shares of the basic materials company’s stock valued at $1,534,000 after acquiring an additional 86,751 shares during the period. Finally, Vanguard Group Inc raised its stake in Landec by 4.3% in the 3rd quarter. Vanguard Group Inc now owns 1,535,517 shares of the basic materials company’s stock valued at $22,112,000 after acquiring an additional 63,494 shares during the period. Institutional investors own 88.73% of the company’s stock.
In other news, Director Nelson Obus bought 30,000 shares of the stock in a transaction on Tuesday, April 9th. The shares were acquired at an average cost of $10.33 per share, for a total transaction of $309,900.00. Following the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $258,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 62,900 shares of company stock worth $713,848 over the last quarter. Corporate insiders own 15.04% of the company’s stock.
Landec (NASDAQ:LNDC) last announced its quarterly earnings results on Wednesday, April 3rd. The basic materials company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. Landec had a return on equity of 3.12% and a net margin of 1.24%. The firm had revenue of $155.69 million for the quarter, compared to analysts’ expectations of $156.47 million. During the same period in the prior year, the business posted $0.58 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts forecast that Landec Co. will post 0.15 EPS for the current year.
A number of brokerages recently issued reports on LNDC. Roth Capital restated a “neutral” rating and issued a $12.00 price objective (down from $16.50) on shares of Landec in a research note on Monday. BidaskClub upgraded Landec from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Zacks Investment Research cut Landec from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. Maxim Group restated a “buy” rating and issued a $17.00 price objective (down from $20.00) on shares of Landec in a research note on Thursday, January 3rd. Finally, ValuEngine cut Landec from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target 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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