Several other analysts also recently weighed in on the company. Lake Street Capital decreased their target price on Landec from $16.00 to $12.00 and set a buy rating for the company in a research note on Thursday, May 23rd. DA Davidson initiated coverage on Landec in a research note on Friday, August 23rd. They set a buy rating for the company. ValuEngine upgraded Landec from a hold rating to a buy rating in a research note on Tuesday, August 6th. Maxim Group reiterated a buy rating and issued a $17.00 price objective on shares of Landec in a research report on Wednesday, July 31st. Finally, Zacks Investment Research downgraded Landec from a hold rating to a sell rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Landec has a consensus rating of Buy and a consensus target price of $13.50.
NASDAQ:LNDC traded down $0.01 during mid-day trading on Thursday, hitting $10.98. 39,754 shares of the company’s stock traded hands, compared to its average volume of 89,449. The firm has a 50 day moving average of $11.13 and a two-hundred day moving average of $10.70. Landec has a 12 month low of $9.02 and a 12 month high of $15.57. The firm has a market capitalization of $320.36 million, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 4.38 and a beta of 0.74. The company has a current ratio of 0.97, a quick ratio of 0.58 and a debt-to-equity ratio of 0.34.
In other news, Director Nelson Obus acquired 10,000 shares of Landec stock in a transaction on Monday, August 5th. The stock was bought at an average price of $10.50 per share, for a total transaction of $105,000.00. Following the transaction, the director now owns 27,915 shares of the company’s stock, valued at $293,107.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 14.99% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. First Trust Advisors LP raised its holdings in shares of Landec by 6.3% in the 1st quarter. First Trust Advisors LP now owns 53,174 shares of the basic materials company’s stock worth $653,000 after buying an additional 3,150 shares in the last quarter. Swiss National Bank raised its holdings in shares of Landec by 7.5% in the 2nd quarter. Swiss National Bank now owns 48,800 shares of the basic materials company’s stock worth $457,000 after buying an additional 3,400 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Landec by 389.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,043 shares of the basic materials company’s stock worth $62,000 after buying an additional 4,013 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Landec in the 2nd quarter worth approximately $44,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Landec by 3.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 159,516 shares of the basic materials company’s stock worth $1,495,000 after buying an additional 4,760 shares in the last quarter. 94.36% of the stock is owned by institutional investors and hedge funds.
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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