Heartland Advisors Inc. Lowers Holdings in Landec Corporation (LNDC)

Heartland Advisors Inc. reduced its holdings in shares of Landec Corporation (NASDAQ:LNDC) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 851,650 shares of the basic materials company’s stock after selling 51,300 shares during the period. Heartland Advisors Inc. owned approximately 3.10% of Landec Corporation worth $11,029,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LNDC. Citigroup Inc. boosted its holdings in Landec Corporation by 489.6% during the second quarter. Citigroup Inc. now owns 9,840 shares of the basic materials company’s stock worth $146,000 after buying an additional 8,171 shares in the last quarter. Acrospire Investment Management LLC boosted its holdings in Landec Corporation by 185.8% during the second quarter. Acrospire Investment Management LLC now owns 10,722 shares of the basic materials company’s stock worth $159,000 after buying an additional 6,971 shares in the last quarter. Eagle Global Advisors LLC purchased a new stake in Landec Corporation during the second quarter worth about $161,000. Trexquant Investment LP purchased a new stake in Landec Corporation during the second quarter worth about $167,000. Finally, Zacks Investment Management purchased a new stake in Landec Corporation during the second quarter worth about $167,000. 91.68% of the stock is currently owned by institutional investors.

In other news, CEO Molly Hemmeter sold 7,399 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total transaction of $96,630.94. Following the completion of the transaction, the chief executive officer now owns 53,017 shares in the company, valued at approximately $692,402.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.62% of the company’s stock.

A number of research firms recently commented on LNDC. Wedbush reissued a “hold” rating on shares of Landec Corporation in a report on Wednesday, July 26th. Zacks Investment Research downgraded shares of Landec Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub raised shares of Landec Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. TheStreet downgraded shares of Landec Corporation from a “b” rating to a “c+” rating in a report on Monday, July 31st. Finally, Maxim Group reissued a “buy” rating and set a $18.00 price objective on shares of Landec Corporation in a report on Tuesday, September 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.33.

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Shares of Landec Corporation (NASDAQ:LNDC) remained flat at $13.35 during trading on Monday. The stock had a trading volume of 2,560 shares. Landec Corporation has a one year low of $11.20 and a one year high of $15.50. The stock has a market cap of $367.21 million, a price-to-earnings ratio of 39.26 and a beta of 1.29. The stock has a 50 day moving average of $12.84 and a 200-day moving average of $13.49.

Landec Corporation (NASDAQ:LNDC) last posted its quarterly earnings data on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Landec Corporation had a net margin of 1.80% and a return on equity of 4.17%. The company had revenue of $123.40 million during the quarter, compared to analyst estimates of $123.00 million. During the same quarter last year, the firm posted $0.12 EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. Equities analysts forecast that Landec Corporation will post $0.55 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Landec Corporation (NASDAQ:LNDC)

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