Landec Corp. (NASDAQ:LNDC)’s share price shot up 2% during trading on Friday . The company traded as high as $12.81 and last traded at $12.71, with a volume of 109,903 shares traded. The stock had previously closed at $12.46.
A number of research firms recently commented on LNDC. Wedbush began coverage on Landec Corp. in a report on Thursday, July 7th. They set a “neutral” rating and a $12.00 price target for the company. Zacks Investment Research upgraded Landec Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Maxim Group began coverage on Landec Corp. in a report on Tuesday, June 7th. They set a “buy” rating and a $16.00 price target for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $14.32.
The stock’s market capitalization is $346.04 million. The stock has a 50 day moving average price of $12.42 and a 200 day moving average price of $11.28.
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Landec Corp. (NASDAQ:LNDC) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The firm earned $135.31 million during the quarter, compared to analyst estimates of $130.02 million. Landec Corp. had a negative net margin of 2.15% and a positive return on equity of 4.53%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. On average, equities analysts expect that Landec Corp. will post $0.57 EPS for the current year.
In other Landec Corp. news, COO Ronald Lane Midyett sold 7,000 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $12.02, for a total value of $84,140.00. Following the completion of the sale, the chief operating officer now owns 111,169 shares in the company, valued at approximately $1,336,251.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gary T. Steele sold 34,484 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $12.47, for a total transaction of $430,015.48. The disclosure for this sale can be found here. 4.89% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. First Interstate Bank raised its stake in Landec Corp. by 21.3% in the second quarter. First Interstate Bank now owns 12,590 shares of the company’s stock valued at $135,000 after buying an additional 2,210 shares during the period. Nomura Holdings Inc. purchased a new stake in Landec Corp. during the second quarter valued at approximately $161,000. Highbridge Capital Management LLC purchased a new stake in Landec Corp. during the second quarter valued at approximately $197,000. Prudential Financial Inc. raised its stake in Landec Corp. by 8.8% in the second quarter. Prudential Financial Inc. now owns 27,094 shares of the company’s stock valued at $292,000 after buying an additional 2,200 shares during the period. Finally, Teachers Advisors Inc. raised its stake in Landec Corp. by 7.3% in the second quarter. Teachers Advisors Inc. now owns 45,646 shares of the company’s stock valued at $491,000 after buying an additional 3,111 shares during the period. Hedge funds and other institutional investors own 95.26% of the company’s stock.
Landec Corp. Company Profile
Landec Corporation designs, develops, manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology, Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables.
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