Congress Asset Management Co. MA boosted its stake in shares of Landec Corporation (NASDAQ:LNDC) by 21.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,929 shares of the basic materials company’s stock after buying an additional 9,496 shares during the period. Congress Asset Management Co. MA owned 0.19% of Landec Corporation worth $786,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Crestwood Advisors Group LLC increased its stake in Landec Corporation by 7.3% in the first quarter. Crestwood Advisors Group LLC now owns 14,688 shares of the basic materials company’s stock worth $176,000 after buying an additional 1,000 shares during the period. First Interstate Bank increased its stake in Landec Corporation by 18.7% in the first quarter. First Interstate Bank now owns 15,460 shares of the basic materials company’s stock worth $186,000 after buying an additional 2,435 shares during the period. American International Group Inc. increased its stake in Landec Corporation by 7.2% in the first quarter. American International Group Inc. now owns 16,486 shares of the basic materials company’s stock worth $198,000 after buying an additional 1,102 shares during the period. Palouse Capital Management Inc. increased its stake in Landec Corporation by 31.6% in the first quarter. Palouse Capital Management Inc. now owns 18,718 shares of the basic materials company’s stock worth $225,000 after buying an additional 4,495 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in 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 92.52% of the company’s stock.
Landec Corporation (NASDAQ LNDC) opened at 13.10 on Friday. Landec Corporation has a 52-week low of $11.20 and a 52-week high of $15.50. The stock has a market capitalization of $360.33 million, a P/E ratio of 34.47 and a beta of 1.40. The stock has a 50 day moving average of $13.56 and a 200 day moving average of $13.39.
Landec Corporation (NASDAQ:LNDC) last released its earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Landec Corporation had a net margin of 1.99% and a return on equity of 4.77%. The business had revenue of $127.40 million during the quarter, compared to analysts’ expectations of $135.46 million. During the same period last year, the business earned $0.17 earnings per share. The firm’s revenue was down 5.8% on a year-over-year basis. On average, equities research analysts forecast that Landec Corporation will post $0.55 EPS for the current year.
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A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Landec Corporation from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Saturday, July 1st. TheStreet upgraded shares of Landec Corporation from a “c+” rating to a “b” rating in a report on Tuesday, April 25th. BidaskClub downgraded shares of Landec Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Wedbush reissued a “hold” rating on shares of Landec Corporation in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.50.
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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