Metropolitan Life Insurance Co. NY boosted its holdings in Landec Co. (NASDAQ:LNDC) by 420.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,543 shares of the basic materials company’s stock after acquiring an additional 7,709 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Landec were worth $113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Citigroup Inc. increased 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 valued at $103,000 after buying an additional 1,246 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Landec in the 3rd quarter valued at about $205,000. First Interstate Bank increased its stake in Landec by 10.9% in the 4th quarter. First Interstate Bank now owns 17,845 shares of the basic materials company’s stock valued at $211,000 after buying an additional 1,750 shares during the last quarter. MetLife Investment Advisors LLC increased its stake in Landec by 55.0% in the 3rd quarter. MetLife Investment Advisors LLC now owns 21,719 shares of the basic materials company’s stock valued at $313,000 after buying an additional 7,709 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Landec by 44.3% in the 4th quarter. Rhumbline Advisers now owns 38,423 shares of the basic materials company’s stock valued at $455,000 after buying an additional 11,792 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Shares of LNDC stock opened at $10.50 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.96 and a debt-to-equity ratio of 0.35. Landec Co. has a 12-month low of $9.99 and a 12-month high of $15.60. The company has a market cap of $306.42 million, a PE ratio of 25.61 and a beta of 0.94.

Landec (NASDAQ:LNDC) last issued its quarterly earnings results on Wednesday, April 3rd. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $156.47 million. During the same quarter last year, the business posted $0.58 EPS. Landec’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts forecast that Landec Co. will post 0.15 earnings per share for the current fiscal year.

In related news, Director Nelson Obus purchased 12,900 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was bought at an average price of $12.12 per share, for a total transaction of $156,348.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have bought 62,900 shares of company stock valued at $713,848. 15.04% of the stock is currently owned by company insiders.

Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Landec from a “hold” rating to a “sell” rating in a research note on Saturday. Roth Capital reiterated 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. BidaskClub upgraded shares of Landec from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Maxim Group reiterated a “buy” rating and issued a $17.00 price objective (down previously from $20.00) on shares of Landec in a research note on Thursday, January 3rd. Finally, ValuEngine lowered shares of Landec from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $14.50.

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Landec Profile

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.

Further Reading: NASDAQ Stock Market Explained

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Institutional Ownership by Quarter for Landec (NASDAQ:LNDC)

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