Landec Corp. (NASDAQ:LNDC) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.08-0.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.08. The company issued revenue guidance of $137-142, compared to the consensus revenue estimate of $140.87 million.Landec Corp. also updated its FY17 guidance to $0.53-0.60 EPS.
Landec Corp. (NASDAQ:LNDC) opened at 12.97 on Wednesday. The stock’s market capitalization is $353.12 million. The stock’s 50 day moving average is $12.62 and its 200 day moving average is $11.43. Landec Corp. has a 12-month low of $9.48 and a 12-month high of $13.16.
Landec Corp. (NASDAQ:LNDC) last released its earnings results on Tuesday, September 27th. The company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. Landec Corp. had a negative net margin of 2.15% and a positive return on equity of 4.53%. The firm had revenue of $132.40 million for the quarter, compared to analyst estimates of $131.84 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts forecast that Landec Corp. will post $0.57 EPS for the current fiscal year.
A number of research firms recently weighed in on LNDC. Zacks Investment Research lowered shares of Landec Corp. from a hold rating to a sell rating in a research note on Thursday, July 28th. Wedbush began coverage on shares of Landec Corp. in a research note on Thursday, July 7th. They issued a neutral rating and a $12.00 price target on the stock. Finally, Maxim Group began coverage on shares of Landec Corp. in a research note on Tuesday, June 7th. They issued a buy rating and a $16.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Landec Corp. has a consensus rating of Buy and an average price target of $14.32.
In other news, COO Ronald Lane Midyett sold 7,000 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $12.02, for a total value of $84,140.00. Following the completion of the sale, the chief operating officer now directly owns 111,169 shares of the company’s stock, valued at $1,336,251.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary T. Steele sold 34,484 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $12.47, for a total value of $430,015.48. The disclosure for this sale can be found here. 4.89% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Highbridge Capital Management LLC purchased a new stake in Landec Corp. during the second quarter valued at $197,000. Nomura Holdings Inc. purchased a new stake in Landec Corp. during the second quarter valued at $161,000. Teachers Advisors Inc. increased its stake in Landec Corp. by 7.3% in the second quarter. Teachers Advisors Inc. now owns 45,646 shares of the company’s stock valued at $491,000 after buying an additional 3,111 shares during the last quarter. Franklin Resources Inc. increased its stake in Landec Corp. by 33.0% in the second quarter. Franklin Resources Inc. now owns 2,847,200 shares of the company’s stock valued at $30,636,000 after buying an additional 706,400 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in Landec Corp. by 0.7% in the second quarter. BlackRock Fund Advisors now owns 694,041 shares of the company’s stock valued at $7,468,000 after buying an additional 4,878 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.
Landec Corp. Company Profile
Landec Corporation designs, develops, manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology, Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables.
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