Insider Selling: Landec Corporation (LNDC) CEO Sells $96,630.94 in Stock

Landec Corporation (NASDAQ:LNDC) CEO Molly Hemmeter sold 7,399 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $13.06, for a total value of $96,630.94. Following the transaction, the chief executive officer now owns 53,017 shares in the company, valued at approximately $692,402.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Landec Corporation (NASDAQ:LNDC) opened at 13.10 on Friday. The company has a market capitalization of $360.33 million, a PE ratio of 38.53 and a beta of 1.29. Landec Corporation has a 12 month low of $11.20 and a 12 month high of $15.50. The stock has a 50 day moving average price of $12.80 and a 200-day moving average price of $13.50.

Landec Corporation (NASDAQ:LNDC) last issued its quarterly earnings data on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The company had revenue of $123.40 million for the quarter, compared to analyst estimates of $123.00 million. Landec Corporation had a net margin of 1.80% and a return on equity of 4.17%. Landec Corporation’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. Analysts forecast that Landec Corporation will post $0.55 EPS for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in Landec Corporation by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 22,688 shares of the basic materials company’s stock valued at $336,000 after acquiring an additional 110 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in 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 valued at $1,587,000 after acquiring an additional 589 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in Landec Corporation by 1.0% in the second quarter. TIAA CREF Investment Management LLC now owns 75,251 shares of the basic materials company’s stock valued at $1,117,000 after acquiring an additional 745 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in 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 valued at $203,000 after acquiring an additional 900 shares in the last quarter. Finally, American International Group Inc. boosted its stake in 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 valued at $198,000 after acquiring an additional 1,102 shares in the last quarter. Institutional investors own 92.01% of the company’s stock.

LNDC has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Landec Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub downgraded Landec Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. TheStreet downgraded Landec Corporation from a “b” rating to a “c+” rating in a report on Monday, July 31st. Maxim Group reiterated a “buy” rating and set a $18.00 target price on shares of Landec Corporation in a report on Tuesday, September 26th. Finally, Wedbush reiterated a “hold” rating on shares of Landec Corporation in a report on Wednesday, July 26th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $15.33.

About Landec Corporation

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.

Insider Buying and Selling by Quarter for Landec Corporation (NASDAQ:LNDC)

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