Dimensional Fund Advisors LP reduced its stake in Landec Corporation (NASDAQ:LNDC) by 0.0% during the first quarter, Holdings Channel reports. The institutional investor owned 2,290,391 shares of the basic materials company’s stock after selling 249 shares during the period. Dimensional Fund Advisors LP owned about 0.08% of Landec Corporation worth $27,485,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Crestwood Advisors Group LLC boosted its position in Landec Corporation by 7.3% in the first quarter. Crestwood Advisors Group LLC now owns 14,688 shares of the basic materials company’s stock valued at $176,000 after buying an additional 1,000 shares in the last quarter. American International Group Inc. boosted its position 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 buying an additional 1,102 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Landec Corporation by 10.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 20,195 shares of the basic materials company’s stock valued at $279,000 after buying an additional 1,951 shares in the last quarter. First Interstate Bank boosted its position in Landec Corporation by 18.7% in the first quarter. First Interstate Bank now owns 15,460 shares of the basic materials company’s stock valued at $186,000 after buying an additional 2,435 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. boosted its position in Landec Corporation by 12.5% in the first quarter. Cutter & CO Brokerage Inc. now owns 32,400 shares of the basic materials company’s stock valued at $389,000 after buying an additional 3,600 shares in the last quarter. 92.04% of the stock is currently owned by institutional investors and hedge funds.
Landec Corporation (NASDAQ LNDC) traded up 1.21% during mid-day trading on Friday, hitting $12.55. The company had a trading volume of 57,363 shares. The company has a market capitalization of $348.31 million, a price-to-earnings ratio of 33.03 and a beta of 1.40. The firm’s 50 day moving average is $14.11 and its 200 day moving average is $13.39. Landec Corporation has a 52 week low of $11.20 and a 52 week high of $15.50.
Landec Corporation (NASDAQ:LNDC) last released its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.09. The firm had revenue of $127.40 million for the quarter, compared to the consensus estimate of $135.46 million. Landec Corporation had a return on equity of 4.81% and a net margin of 1.99%. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. On average, equities research analysts predict that Landec Corporation will post $0.55 EPS for the current year.
Several analysts have issued reports on the company. TheStreet upgraded Landec Corporation from a “c+” rating to a “b” rating in a research note on Tuesday, April 25th. Wedbush restated a “hold” rating on shares of Landec Corporation in a research note on Wednesday, July 26th. BidaskClub lowered Landec Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Zacks Investment Research lowered Landec Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.50.
In related news, Director Gary T. Steele sold 26,708 shares of Landec Corporation stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $14.00, for a total transaction of $373,912.00. The transaction was disclosed in a filing with the SEC, which is available through 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.
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