Parametric Portfolio Associates LLC Sells 61,466 Shares of Landec Corporation (LNDC)

Parametric Portfolio Associates LLC decreased its stake in Landec Corporation (NASDAQ:LNDC) by 34.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,028 shares of the basic materials company’s stock after selling 61,466 shares during the period. Parametric Portfolio Associates LLC owned 0.43% of Landec Corporation worth $1,416,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in shares of Landec Corporation during the fourth quarter worth $2,100,000. Boston Partners raised its position in shares of Landec Corporation by 17.0% in the first quarter. Boston Partners now owns 530,400 shares of the basic materials company’s stock worth $6,364,000 after buying an additional 76,890 shares during the last quarter. Foundry Partners LLC raised its position in shares of Landec Corporation by 15.8% in the first quarter. Foundry Partners LLC now owns 409,715 shares of the basic materials company’s stock worth $4,917,000 after buying an additional 55,900 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Landec Corporation by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,290,640 shares of the basic materials company’s stock worth $31,611,000 after buying an additional 37,124 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Landec Corporation during the fourth quarter worth $388,000. 92.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Landec Corporation (NASDAQ LNDC) opened at 13.00 on Friday. Landec Corporation has a 12 month low of $10.86 and a 12 month high of $15.50. The company has a market cap of $354.97 million, a price-to-earnings ratio of 27.78 and a beta of 1.43. The stock has a 50 day moving average of $14.22 and a 200-day moving average of $13.39.

Landec Corporation (NASDAQ:LNDC) last announced its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $127.40 million during the quarter, compared to the consensus estimate of $135.46 million. Landec Corporation had a net margin of 1.99% and a return on equity of 4.81%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. On average, analysts forecast that Landec Corporation will post $0.60 EPS for the current year.

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A number of research analysts have weighed in on LNDC shares. TheStreet raised shares of Landec Corporation from a “c+” rating to a “b” rating in a research note on Tuesday, April 25th. Zacks Investment Research raised shares of Landec Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Griffin Securities reaffirmed a “buy” rating on shares of Landec Corporation in a research note on Thursday, April 6th. BidaskClub lowered shares of Landec Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Wedbush reaffirmed a “hold” rating on shares of Landec Corporation in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.50.

In other news, Director Gary T. Steele sold 26,708 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $14.00, for a total transaction of $373,912.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.89% of the company’s stock.

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.