Pacific Ridge Capital Partners LLC lessened its position in Landec Co. (NASDAQ:LNDC) by 5.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 261,988 shares of the basic materials company’s stock after selling 15,978 shares during the period. Pacific Ridge Capital Partners LLC owned approximately 0.94% of Landec worth $3,773,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of LNDC. Citadel Advisors LLC bought a new stake in shares of Landec in the 3rd quarter worth $205,000. Renaissance Technologies LLC bought a new stake in shares of Landec in the 2nd quarter worth $295,000. First Trust Advisors LP raised its stake in shares of Landec by 18.1% in the 2nd quarter. First Trust Advisors LP now owns 31,236 shares of the basic materials company’s stock worth $465,000 after buying an additional 4,789 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Landec by 72.9% in the 3rd quarter. Bessemer Group Inc. now owns 39,600 shares of the basic materials company’s stock worth $570,000 after buying an additional 16,700 shares in the last quarter. Finally, Martingale Asset Management L P raised its stake in shares of Landec by 84.7% in the 2nd quarter. Martingale Asset Management L P now owns 49,723 shares of the basic materials company’s stock worth $741,000 after buying an additional 22,805 shares in the last quarter. 92.55% of the stock is currently owned by institutional investors.
Shares of NASDAQ LNDC opened at $13.82 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.67 and a current ratio of 1.02. The firm has a market capitalization of $402.36 million, a P/E ratio of 40.28 and a beta of 0.68. Landec Co. has a 52-week low of $11.60 and a 52-week high of $15.60.
Landec (NASDAQ:LNDC) last issued its earnings results on Tuesday, October 2nd. The basic materials company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $124.70 million for the quarter, compared to analysts’ expectations of $123.94 million. Landec had a return on equity of 3.95% and a net margin of 4.15%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. As a group, research analysts expect that Landec Co. will post 0.42 EPS for the current fiscal year.
A number of research firms have recently commented on LNDC. BidaskClub downgraded Landec from a “strong-buy” rating to a “buy” rating in a research note on Friday. Zacks Investment Research cut Landec from a “hold” rating to a “sell” rating in a report on Thursday, November 29th. ValuEngine upgraded Landec from a “hold” rating to a “buy” rating in a report on Wednesday, September 26th. Finally, Roth Capital initiated coverage on Landec in a report on Tuesday, September 25th. They issued a “buy” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $18.00.
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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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