Bank of New York Mellon Corp lessened its holdings in Landec Co. (NASDAQ:LNDC) by 2.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 318,116 shares of the basic materials company’s stock after selling 8,416 shares during the period. Bank of New York Mellon Corp owned 1.15% of Landec worth $4,580,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of LNDC. Renaissance Technologies LLC purchased a new stake in shares of Landec in the second quarter worth $295,000. Bessemer Group Inc. raised its position in shares of Landec by 72.9% in the third 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. First Trust Advisors LP raised its position in shares of Landec by 34.9% in the third quarter. First Trust Advisors LP now owns 42,127 shares of the basic materials company’s stock worth $607,000 after buying an additional 10,891 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Landec by 20.7% in the second quarter. California Public Employees Retirement System now owns 93,557 shares of the basic materials company’s stock worth $1,394,000 after buying an additional 16,037 shares in the last quarter. Finally, Chartwell Investment Partners LLC raised its position in shares of Landec by 5.5% in the third quarter. Chartwell Investment Partners LLC now owns 112,254 shares of the basic materials company’s stock worth $1,616,000 after buying an additional 5,865 shares in the last quarter. Institutional investors own 86.58% of the company’s stock.
In other news, Director Steven D. Goldby purchased 20,000 shares of the stock in a transaction on Tuesday, January 8th. The shares were acquired at an average price of $11.24 per share, for a total transaction of $224,800.00. Following the completion of the transaction, the director now directly owns 66,490 shares of the company’s stock, valued at approximately $747,347.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Nelson Obus purchased 12,900 shares of the stock in a transaction on Friday, February 8th. The shares were purchased at an average price of $12.12 per share, for a total transaction of $156,348.00. The disclosure for this purchase can be found here. Insiders have acquired 78,900 shares of company stock worth $921,228 in the last 90 days. Company insiders own 15.04% of the company’s stock.
A number of equities research analysts recently issued reports on the company. ValuEngine downgraded Landec from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. BidaskClub upgraded Landec from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 22nd. Finally, Zacks Investment Research upgraded Landec from a “sell” rating to a “hold” rating in a research report on Saturday, November 3rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $17.50.
NASDAQ LNDC opened at $12.09 on Thursday. Landec Co. has a twelve month low of $10.17 and a twelve month high of $15.60. The company has a current ratio of 0.95, a quick ratio of 0.63 and a debt-to-equity ratio of 0.15. The stock has a market cap of $359.96 million, a price-to-earnings ratio of 29.49 and a beta of 0.90.
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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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