Landec Co. (NASDAQ:LNDC) Director Steven D. Goldby bought 20,000 shares of the business’s stock in a transaction on Tuesday, January 8th. The shares were purchased at an average cost of $11.24 per share, with a total value of $224,800.00. Following the transaction, the director now owns 66,490 shares in the company, valued at $747,347.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of LNDC opened at $11.67 on Friday. The stock has a market cap of $327.87 million, a PE ratio of 28.46 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.67. Landec Co. has a 52 week low of $10.17 and a 52 week high of $15.60.
A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Landec from a “hold” rating to a “sell” rating in a research report on Wednesday, November 21st. ValuEngine lowered shares of Landec from a “buy” rating to a “hold” rating in a research report on Saturday, January 5th. Maxim Group reaffirmed a “buy” rating and set a $17.00 price objective (down previously from $20.00) on shares of Landec in a research report on Thursday, January 3rd. Finally, BidaskClub lowered shares of Landec from a “hold” rating to a “sell” rating in a research report on Thursday, December 27th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $17.50.
Several institutional investors and hedge funds have recently made changes to their positions in LNDC. Citadel Advisors LLC acquired a new position in shares of Landec during the third quarter valued at about $205,000. Renaissance Technologies LLC acquired a new position in shares of Landec during the second quarter valued at about $295,000. MetLife Investment Advisors LLC raised its position in shares of Landec by 55.0% during the third 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. First Trust Advisors LP raised its position in shares of Landec by 18.1% during the second quarter. First Trust Advisors LP now owns 31,236 shares of the basic materials company’s stock valued at $465,000 after buying an additional 4,789 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Landec by 72.9% during the third quarter. Bessemer Group Inc. now owns 39,600 shares of the basic materials company’s stock valued at $570,000 after buying an additional 16,700 shares during the last quarter. 92.55% of the stock is owned by institutional investors and hedge funds.
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Landec Company 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.
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