Legato Capital Management LLC Acquires New Holdings in Landec Co. (LNDC)

Legato Capital Management LLC acquired a new position in Landec Co. (NASDAQ:LNDC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 89,330 shares of the basic materials company’s stock, valued at approximately $1,058,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its holdings in Landec by 18.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 143,725 shares of the basic materials company’s stock worth $2,142,000 after buying an additional 22,475 shares during the period. California Public Employees Retirement System lifted its holdings in Landec by 20.7% in the second quarter. California Public Employees Retirement System now owns 93,557 shares of the basic materials company’s stock worth $1,394,000 after buying an additional 16,037 shares during the period. Northpointe Capital LLC lifted its holdings in Landec by 62.3% in the third quarter. Northpointe Capital LLC now owns 320,677 shares of the basic materials company’s stock worth $4,618,000 after buying an additional 123,111 shares during the period. BlackRock Inc. lifted its holdings in Landec by 5.0% in the second quarter. BlackRock Inc. now owns 1,950,345 shares of the basic materials company’s stock worth $29,061,000 after buying an additional 92,444 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Landec by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,332,179 shares of the basic materials company’s stock worth $33,583,000 after buying an additional 17,353 shares during the period. Institutional investors and hedge funds own 87.55% of the company’s stock.

In other news, Director Steven D. Goldby acquired 20,000 shares of the firm’s 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 $747,347.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gregory S. Skinner acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 8th. The stock was purchased at an average price of $11.25 per share, with a total value of $281,250.00. Following the completion of the acquisition, the chief financial officer now owns 288,036 shares in the company, valued at $3,240,405. The disclosure for this purchase can be found here. Insiders have bought 46,000 shares of company stock valued at $517,280 over the last quarter. Company insiders own 15.04% of the company’s stock.

Several equities analysts have recently issued reports on LNDC shares. BidaskClub lowered shares of Landec from a “hold” rating to a “sell” rating in a report on Saturday, December 15th. Roth Capital started coverage on shares of Landec in a report on Tuesday, September 25th. They set a “buy” rating and a $18.00 target price for the company. ValuEngine lowered shares of Landec from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. Finally, Zacks Investment Research upgraded shares of Landec from a “sell” rating to a “hold” rating in a report on Saturday, November 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.50.

Shares of LNDC stock traded up $0.49 during trading hours on Wednesday, hitting $12.13. 3,460 shares of the company’s stock traded hands, compared to its average volume of 91,198. Landec Co. has a 12-month low of $10.17 and a 12-month high of $15.60. The firm has a market capitalization of $337.50 million, a price-to-earnings ratio of 29.59 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.63 and a current ratio of 0.95.

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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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Institutional Ownership by Quarter for Landec (NASDAQ:LNDC)

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