Kennedy Capital Management Inc. lifted its stake in Landec Co. (NASDAQ:LNDC) by 6.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 203,457 shares of the basic materials company’s stock after buying an additional 11,894 shares during the quarter. Kennedy Capital Management Inc.’s holdings in Landec were worth $2,498,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in LNDC. Legal & General Group Plc increased its position in Landec by 36.1% in the fourth quarter. Legal & General Group Plc now owns 5,283 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 1,401 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Landec by 389.6% in the first quarter. BNP Paribas Arbitrage SA now owns 5,043 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 4,013 shares during the last quarter. Citigroup Inc. increased its position in Landec by 16.7% in the fourth 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 last quarter. Metropolitan Life Insurance Co. NY increased its position in Landec by 420.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,543 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 7,709 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in Landec during the first quarter valued at $239,000. 90.17% of the stock is currently owned by hedge funds and other institutional investors.
LNDC stock opened at $9.53 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35. Landec Co. has a twelve month low of $9.02 and a twelve month high of $15.60. The firm has a market cap of $279.28 million, a price-to-earnings ratio of 23.24 and a beta of 0.85.
Landec (NASDAQ:LNDC) last posted its quarterly earnings data on Wednesday, April 3rd. The basic materials company reported $0.04 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $155.69 million for the quarter, compared to analysts’ expectations of $156.47 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, analysts anticipate that Landec Co. will post 0.15 EPS for the current fiscal year.
A number of research firms have weighed in on LNDC. BidaskClub upgraded shares of Landec from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Landec from a “sell” rating to a “hold” rating in a research report on Tuesday. Lake Street Capital cut their price objective on shares of Landec from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Finally, Roth Capital reiterated a “neutral” rating and set a $12.00 price objective (down previously from $16.50) on shares of Landec in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $13.67.
In other news, Director Nelson Obus acquired 30,000 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were acquired at an average price of $10.33 per share, for a total transaction of $309,900.00. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $258,250. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 15.04% of the company’s stock.
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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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