Landec Co. (LNDC) Receives $17.50 Consensus PT from Analysts

Shares of Landec Co. (NASDAQ:LNDC) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $17.50.

Several equities research analysts recently weighed in on LNDC shares. Maxim Group reiterated a “buy” rating and issued a $17.00 target price (down previously from $20.00) on shares of Landec in a research note on Thursday, January 3rd. BidaskClub upgraded shares of Landec from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. ValuEngine upgraded shares of Landec from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Finally, Zacks Investment Research upgraded shares of Landec from a “sell” rating to a “hold” rating in a research note on Saturday, November 10th.

NASDAQ LNDC opened at $12.38 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.63. Landec has a twelve month low of $10.17 and a twelve month high of $15.60. The stock has a market capitalization of $361.13 million, a P/E ratio of 30.20 and a beta of 0.90.

In other Landec news, Director Nelson Obus purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 6th. The stock was purchased at an average price of $12.38 per share, with a total value of $247,600.00. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $309,500. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gregory S. Skinner purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 8th. The stock was acquired at an average cost of $11.25 per share, with a total value of $281,250.00. Following the transaction, the chief financial officer now directly owns 288,036 shares of the company’s stock, valued at $3,240,405. The disclosure for this purchase can be found here. Insiders purchased 66,000 shares of company stock valued at $764,880 in the last three months. Company insiders own 15.04% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its holdings in shares of Landec by 18.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 143,725 shares of the basic materials company’s stock worth $2,142,000 after buying an additional 22,475 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Landec by 20.7% during 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. Dimensional Fund Advisors LP increased its holdings in shares of Landec by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,332,179 shares of the basic materials company’s stock worth $33,583,000 after buying an additional 17,353 shares in the last quarter. Northpointe Capital LLC increased its holdings in shares of Landec by 62.3% during the third quarter. Northpointe Capital LLC now owns 320,677 shares of the basic materials company’s stock worth $4,618,000 after buying an additional 123,111 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Landec by 5.0% during the second quarter. BlackRock Inc. now owns 1,950,345 shares of the basic materials company’s stock worth $29,061,000 after buying an additional 92,444 shares in the last quarter. 86.58% of the stock is owned by institutional investors.

About Landec

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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