Landec Corporation (LNDC) CEO Molly Hemmeter Sells 7,399 Shares
Landec Corporation (NASDAQ:LNDC) CEO Molly Hemmeter sold 7,399 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $13.06, for a total transaction of $96,630.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of Landec Corporation (NASDAQ:LNDC) remained flat at $13.00 during midday trading on Tuesday. 34,702 shares of the stock traded hands. Landec Corporation has a 52 week low of $11.20 and a 52 week high of $15.50. The firm has a market capitalization of $357.58 million, a price-to-earnings ratio of 38.24 and a beta of 1.29. The stock has a 50 day moving average price of $12.78 and a 200-day moving average price of $13.51.
Landec Corporation (NASDAQ:LNDC) last posted its quarterly earnings data on Tuesday, September 26th. The basic materials company reported $0.08 EPS for the quarter, beating the Zacks’ 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 the consensus estimate of $123.00 million. During the same quarter in the prior year, the company posted $0.12 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, equities analysts expect that Landec Corporation will post $0.55 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of LNDC. Walthausen & Co. LLC acquired a new position in shares of Landec Corporation during the 2nd quarter valued at about $2,896,000. Royce & Associates LP increased its stake in shares of Landec Corporation by 17.0% during the 2nd quarter. Royce & Associates LP now owns 1,214,136 shares of the basic materials company’s stock valued at $18,030,000 after acquiring an additional 176,629 shares during the last quarter. Algert Global LLC acquired a new position in shares of Landec Corporation during the 2nd quarter valued at about $2,012,000. Vanguard Group Inc. increased its stake in shares of Landec Corporation by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 1,254,994 shares of the basic materials company’s stock valued at $15,060,000 after acquiring an additional 49,191 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Landec Corporation by 21.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 209,579 shares of the basic materials company’s stock valued at $3,113,000 after acquiring an additional 37,603 shares during the last quarter. 92.01% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on the stock. Wedbush restated a “hold” rating on shares of Landec Corporation in a research report on Wednesday, July 26th. Zacks Investment Research cut shares of Landec Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub upgraded shares of Landec Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. TheStreet cut shares of Landec Corporation from a “b” rating to a “c+” rating in a research report on Monday, July 31st. Finally, Maxim Group restated a “buy” rating and set a $18.00 price objective on shares of Landec Corporation in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Landec Corporation has an average rating of “Hold” and an average target price of $15.33.
Landec Corporation Company 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.
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