Landec (LNDC) Downgraded by ValuEngine to Hold

Landec (NASDAQ:LNDC) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, February 4th.

Several other research firms have also weighed in on LNDC. BidaskClub lowered Landec from a “hold” rating to a “sell” rating in a report on Saturday, December 15th. Zacks Investment Research upgraded Landec from a “sell” rating to a “hold” rating in a report on Saturday, November 3rd. Finally, Maxim Group reaffirmed a “buy” rating and issued a $17.00 target price (down previously from $20.00) on shares of Landec in a research report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.50.

LNDC stock opened at $12.97 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.63 and a current ratio of 0.95. The stock has a market cap of $373.96 million, a price-to-earnings ratio of 31.63 and a beta of 0.90. Landec has a 1-year low of $10.17 and a 1-year high of $15.60.

In related news, Director Steven D. Goldby purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 8th. The stock was acquired at an average cost of $11.24 per share, for a total transaction of $224,800.00. Following the completion of the purchase, the director now owns 66,490 shares in the company, valued at approximately $747,347.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nelson Obus purchased 12,900 shares of the business’s stock in a transaction that occurred on Friday, February 8th. The stock was bought at an average price of $12.12 per share, with a total value of $156,348.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 78,900 shares of company stock worth $921,228. Company insiders own 15.04% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. increased its holdings in shares of Landec by 16.7% during the fourth quarter. Citigroup Inc. now owns 8,726 shares of the basic materials company’s stock worth $103,000 after buying an additional 1,246 shares in the last quarter. Legal & General Group Plc increased its holdings in Landec by 36.1% in the fourth quarter. Legal & General Group Plc now owns 5,283 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 1,401 shares during the period. Ancora Advisors LLC increased its holdings in Landec by 1.4% in the fourth quarter. Ancora Advisors LLC now owns 109,688 shares of the basic materials company’s stock valued at $1,299,000 after purchasing an additional 1,495 shares during the period. First Interstate Bank increased its holdings in Landec by 10.9% in the fourth quarter. First Interstate Bank now owns 17,845 shares of the basic materials company’s stock valued at $211,000 after purchasing an additional 1,750 shares during the period. Finally, Algert Global LLC increased its holdings in Landec by 2.3% in the third quarter. Algert Global LLC now owns 178,468 shares of the basic materials company’s stock valued at $2,570,000 after purchasing an additional 4,088 shares during the period. Hedge funds and other institutional investors own 88.84% of the company’s stock.

About Landec

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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