Landec Corporation (LNDC) Holdings Lifted by NWQ Investment Management Company LLC

NWQ Investment Management Company LLC raised its stake in shares of Landec Corporation (NASDAQ:LNDC) by 1.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,779,223 shares of the basic materials company’s stock after buying an additional 53,050 shares during the quarter. NWQ Investment Management Company LLC owned about 13.74% of Landec worth $48,941,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of Landec during the third quarter worth about $141,000. Citigroup Inc. grew its holdings in shares of Landec 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 purchasing an additional 8,171 shares in the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Landec 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 purchasing an additional 6,971 shares in the last quarter. Zacks Investment Management purchased a new position in shares of Landec during the second quarter worth about $167,000. Finally, Trexquant Investment LP purchased a new position in shares of Landec during the second quarter worth about $167,000. 93.83% of the stock is owned by institutional investors and hedge funds.

Shares of Landec Corporation (NASDAQ LNDC) opened at $11.65 on Thursday. The firm has a market capitalization of $332.83, a P/E ratio of 34.57 and a beta of 1.23. Landec Corporation has a 12-month low of $11.20 and a 12-month high of $15.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.53 and a quick ratio of 1.04.

Landec (NASDAQ:LNDC) last released its earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. The company had revenue of $123.40 million during the quarter, compared to the consensus estimate of $123.00 million. Landec had a return on equity of 4.17% and a net margin of 1.80%. Landec’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. analysts expect that Landec Corporation will post 0.54 earnings per share for the current fiscal year.

In other Landec news, CEO Molly Hemmeter sold 7,399 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $13.06, for a total value of $96,630.94. Following the completion of the sale, the chief executive officer now owns 53,017 shares in the company, valued at $692,402.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.62% of the company’s stock.

Several research analysts have recently commented on the company. Zacks Investment Research lowered Landec from a “hold” rating to a “sell” rating in a report on Wednesday. Maxim Group reissued a “buy” rating and set a $18.00 price objective on shares of Landec in a report on Wednesday, November 29th. BidaskClub raised Landec from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, Wedbush reissued a “hold” rating and set a $13.00 price objective on shares of Landec in a report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Landec currently has a consensus rating of “Hold” and a consensus price target of $15.33.

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Landec Profile

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.

Institutional Ownership by Quarter for Landec (NASDAQ:LNDC)

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