Legato Capital Management LLC Grows Position in Landec Co. (LNDC)
Legato Capital Management LLC increased its holdings in shares of Landec Co. (NASDAQ:LNDC) by 97.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,220 shares of the basic materials company’s stock after acquiring an additional 86,890 shares during the quarter. Legato Capital Management LLC owned approximately 0.60% of Landec worth $2,164,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Landec by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,332,179 shares of the basic materials company’s stock worth $33,583,000 after buying an additional 17,353 shares in the last quarter. Citigroup Inc. boosted its stake in Landec by 16.7% in the 4th quarter. Citigroup Inc. now owns 8,726 shares of the basic materials company’s stock worth $103,000 after purchasing an additional 1,246 shares during the period. Martingale Asset Management L P boosted its stake in Landec by 17.5% in the 4th quarter. Martingale Asset Management L P now owns 117,426 shares of the basic materials company’s stock worth $1,391,000 after purchasing an additional 17,500 shares during the period. BlackRock Inc. boosted its stake in Landec by 2.3% in the 4th quarter. BlackRock Inc. now owns 2,048,555 shares of the basic materials company’s stock worth $24,253,000 after purchasing an additional 46,011 shares during the period. Finally, Renaissance Technologies LLC boosted 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 worth $1,534,000 after purchasing an additional 86,751 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.
LNDC has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Landec from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Zacks Investment Research lowered shares of Landec from a “hold” rating to a “sell” rating in a research note on Thursday, February 7th. ValuEngine lowered shares of Landec from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $12.00 price objective (down previously from $16.50) on shares of Landec in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.50.
LNDC stock traded up $0.25 during midday trading on Wednesday, reaching $10.79. The company had a trading volume of 2,650 shares, compared to its average volume of 196,315. Landec Co. has a 1 year low of $9.99 and a 1 year high of $15.60. The company has a quick ratio of 0.59, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. The company has a market cap of $304.08 million, a price-to-earnings ratio of 25.90 and a beta of 0.94.
Landec (NASDAQ:LNDC) last released its earnings results on Wednesday, April 3rd. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Landec had a net margin of 1.24% and a return on equity of 3.12%. The company had revenue of $155.69 million during the quarter, compared to the consensus estimate of $156.47 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. On average, research analysts anticipate that Landec Co. will post 0.15 EPS for the current year.
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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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