Landec (LNDC) Cut to “Sell” at BidaskClub

BidaskClub cut shares of Landec (NASDAQ:LNDC) from a hold rating to a sell rating in a research report report published on Friday morning.

Several other equities analysts have also recently commented on LNDC. Zacks Investment Research cut shares of Landec from a hold rating to a sell rating in a research report on Thursday, October 18th. Maxim Group reissued a buy rating and set a $17.00 target price (down previously from $20.00) on shares of Landec in a research report on Thursday, January 3rd. Finally, ValuEngine cut shares of Landec from a buy rating to a hold rating in a research report on Saturday, January 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $17.50.

Landec stock opened at $12.40 on Friday. Landec has a 52 week low of $10.17 and a 52 week high of $15.60. The company has a current ratio of 0.95, a quick ratio of 0.63 and a debt-to-equity ratio of 0.15. The company has a market cap of $361.13 million, a price-to-earnings ratio of 30.24 and a beta of 0.90.



In related news, Director Nelson Obus purchased 12,900 shares of the stock in a transaction that occurred on Friday, February 8th. The shares were bought at an average price of $12.12 per share, with a total value of $156,348.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven D. Goldby purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, January 8th. The stock was bought at an average cost of $11.24 per share, for a total transaction of $224,800.00. Following the acquisition, the director now directly owns 66,490 shares in the company, valued at approximately $747,347.60. The disclosure for this purchase can be found here. Insiders purchased a total of 78,900 shares of company stock worth $921,228 in the last ninety days. 15.04% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of Landec by 18.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 143,725 shares of the basic materials company’s stock worth $2,142,000 after purchasing an additional 22,475 shares during the period. California Public Employees Retirement System raised its holdings in shares of Landec by 20.7% in the 2nd quarter. California Public Employees Retirement System now owns 93,557 shares of the basic materials company’s stock worth $1,394,000 after purchasing an additional 16,037 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Landec by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,332,179 shares of the basic materials company’s stock worth $33,583,000 after purchasing an additional 17,353 shares during the period. Northpointe Capital LLC raised its holdings in shares of Landec by 62.3% in the 3rd quarter. Northpointe Capital LLC now owns 320,677 shares of the basic materials company’s stock worth $4,618,000 after purchasing an additional 123,111 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Landec by 5.0% in the 2nd quarter. BlackRock Inc. now owns 1,950,345 shares of the basic materials company’s stock worth $29,061,000 after purchasing an additional 92,444 shares during the period. 86.58% of the stock is currently owned by institutional investors.

Landec Company Profile

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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