Landec Corporation (LNDC) Stake Reduced by Heartland Advisors Inc.
Heartland Advisors Inc. lowered its position in Landec Corporation (NASDAQ:LNDC) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 902,950 shares of the basic materials company’s stock after selling 59,000 shares during the period. Heartland Advisors Inc. owned approximately 3.25% of Landec Corporation worth $13,409,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Landec Corporation by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 106,809 shares of the basic materials company’s stock worth $1,587,000 after buying an additional 589 shares during the period. Crestwood Advisors Group LLC boosted its stake in shares of Landec Corporation by 6.1% in the second quarter. Crestwood Advisors Group LLC now owns 15,588 shares of the basic materials company’s stock worth $203,000 after buying an additional 900 shares during the period. American International Group Inc. boosted its stake in shares of Landec Corporation by 7.2% in the first quarter. American International Group Inc. now owns 16,486 shares of the basic materials company’s stock worth $198,000 after buying an additional 1,102 shares during the period. First Interstate Bank boosted its stake in shares of Landec Corporation by 9.1% in the second quarter. First Interstate Bank now owns 16,865 shares of the basic materials company’s stock worth $250,000 after buying an additional 1,405 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Landec Corporation by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 48,065 shares of the basic materials company’s stock worth $577,000 after buying an additional 2,311 shares during the period. 92.07% of the stock is currently owned by hedge funds and other institutional investors.
Landec Corporation (NASDAQ LNDC) traded up 0.38% during mid-day trading on Thursday, reaching $13.10. 1,315 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $13.38 and its 200-day moving average price is $13.42. The company has a market capitalization of $360.33 million, a P/E ratio of 34.47 and a beta of 1.40. Landec Corporation has a 52 week low of $11.20 and a 52 week high of $15.50.
Landec Corporation (NASDAQ:LNDC) last announced its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Landec Corporation had a return on equity of 4.77% and a net margin of 1.99%. The business had revenue of $127.40 million during the quarter, compared to analysts’ expectations of $135.46 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities research analysts expect that Landec Corporation will post $0.55 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on LNDC shares. Zacks Investment Research upgraded shares of Landec Corporation from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Saturday, July 1st. TheStreet lowered shares of Landec Corporation from a “b” rating to a “c+” rating in a research note on Monday, July 31st. BidaskClub raised shares of Landec Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Wedbush reaffirmed a “hold” rating on shares of Landec Corporation in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Landec Corporation presently has an average rating of “Hold” and a consensus price target of $14.50.
Landec Corporation Company Profile
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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