Landec Corporation (NASDAQ:LNDC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Landec Corporation designs, develops, manufactures and sells temperature-activated and other specialty polymer products for a variety of food products, agricultural products, specialty industrial and medical applications. This proprietary polymer technology is the foundation, and a key differentiating advantage, upon which they have built their business. “
A number of other research analysts have also weighed in on LNDC. Wedbush set a $13.00 price objective on Landec Corporation and gave the company a “hold” rating in a research report on Sunday, April 2nd. Griffin Securities restated a “buy” rating on shares of Landec Corporation in a research report on Thursday, April 6th. TheStreet upgraded Landec Corporation from a “c+” rating to a “b” rating in a research report on Tuesday, April 25th. Finally, BidaskClub lowered Landec Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Landec Corporation presently has an average rating of “Hold” and an average target price of $14.50.
Landec Corporation (NASDAQ:LNDC) opened at 14.25 on Tuesday. Landec Corporation has a 52-week low of $10.59 and a 52-week high of $15.50. The company’s 50-day moving average price is $14.01 and its 200 day moving average price is $13.35. The stock has a market capitalization of $389.10 million, a PE ratio of 30.45 and a beta of 1.43.
In other news, Director Gary T. Steele sold 26,708 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $14.00, for a total transaction of $373,912.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.89% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in shares of Landec Corporation during the fourth quarter worth $2,100,000. State Street Corp raised its position in shares of Landec Corporation by 3.8% in the fourth quarter. State Street Corp now owns 447,403 shares of the basic materials company’s stock worth $6,176,000 after buying an additional 16,455 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Landec Corporation by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,290,640 shares of the basic materials company’s stock worth $31,611,000 after buying an additional 37,124 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Landec Corporation during the fourth quarter worth $388,000. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Landec Corporation by 10.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 20,195 shares of the basic materials company’s stock worth $279,000 after buying an additional 1,951 shares during the last quarter. Hedge funds and other institutional investors own 92.07% of the company’s stock.
About Landec Corporation
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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