Landec Corp. (NASDAQ:LNDC) – Investment analysts at Feltl & Co. decreased their Q2 2017 earnings per share estimates for shares of Landec Corp. in a report released on Thursday. Feltl & Co. analyst B. Rystrom now forecasts that the firm will post earnings of $0.07 per share for the quarter, down from their previous estimate of $0.08. Feltl & Co. also issued estimates for Landec Corp.’s Q3 2017 earnings at $0.16 EPS, Q2 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.29 EPS and FY2018 earnings at $0.81 EPS.
Landec Corp. (NASDAQ:LNDC) last announced its quarterly earnings results on Tuesday, September 27th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Landec Corp. had a negative net margin of 2.10% and a positive return on equity of 4.74%. The firm earned $132.40 million during the quarter. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year.
A number of other research firms have also recently commented on LNDC. Zacks Investment Research upgraded shares of Landec Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Maxim Group started coverage on shares of Landec Corp. in a report on Tuesday, June 7th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Wedbush started coverage on shares of Landec Corp. in a report on Thursday, July 7th. They issued a “neutral” rating and a $12.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $14.32.
Shares of Landec Corp. (NASDAQ:LNDC) opened at 13.41 on Monday. The stock has a 50 day moving average of $12.71 and a 200-day moving average of $11.48. Landec Corp. has a 52 week low of $9.48 and a 52 week high of $13.56. The company’s market capitalization is $369.04 million.
Hedge funds and other institutional investors have recently modified their holdings of the company. Chartwell Investment Partners LLC acquired a new position in shares of Landec Corp. during the second quarter valued at about $2,997,000. Royce & Associates LP boosted its position in shares of Landec Corp. by 1.7% in the first quarter. Royce & Associates LP now owns 1,024,601 shares of the company’s stock valued at $10,758,000 after buying an additional 17,465 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Landec Corp. by 109.5% in the first quarter. Franklin Resources Inc. now owns 2,140,800 shares of the company’s stock valued at $22,478,000 after buying an additional 1,119,000 shares during the last quarter. NWQ Investment Management Company LLC boosted its position in shares of Landec Corp. by 6.7% in the first quarter. NWQ Investment Management Company LLC now owns 2,484,569 shares of the company’s stock valued at $26,088,000 after buying an additional 155,629 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Landec Corp. by 10.7% in the first quarter. Geode Capital Management LLC now owns 190,498 shares of the company’s stock valued at $2,000,000 after buying an additional 18,461 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.
In other news, Director Gary T. Steele sold 34,484 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $12.47, for a total value of $430,015.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Ronald Lane Midyett sold 7,000 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $12.02, for a total transaction of $84,140.00. Following the completion of the transaction, the chief operating officer now owns 111,169 shares in the company, valued at $1,336,251.38. The disclosure for this sale can be found here. 4.89% of the stock is currently owned by insiders.
About Landec Corp.
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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