Landec (LNDC) Cut to Sell at BidaskClub

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

Several other research firms have also weighed in on LNDC. Zacks Investment Research lowered Landec from a hold rating to a sell rating in a research note on Thursday, November 29th. Maxim Group reaffirmed a buy rating and issued a $17.00 price objective (down from $20.00) on shares of Landec in a research note on Thursday, January 3rd. Finally, ValuEngine lowered Landec from a buy rating to a hold rating in a research note on Saturday, January 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $17.50.

Shares of NASDAQ LNDC opened at $12.38 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.63 and a debt-to-equity ratio of 0.15. Landec has a 52 week low of $10.17 and a 52 week high of $15.60. The firm has a market capitalization of $361.13 million, a P/E ratio of 30.20 and a beta of 0.90.

In other news, Director Nelson Obus purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, February 6th. The shares were purchased at an average cost of $12.38 per share, with a total value of $247,600.00. Following the completion of the purchase, the director now owns 25,000 shares of the company’s stock, valued at approximately $309,500. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gregory S. Skinner purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, January 8th. The shares were purchased at an average cost of $11.25 per share, for a total transaction of $281,250.00. Following the completion of the purchase, the chief financial officer now directly owns 288,036 shares of the company’s stock, valued at approximately $3,240,405. The disclosure for this purchase can be found here. Insiders have bought 66,000 shares of company stock worth $764,880 over the last three months. Insiders own 15.04% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. 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 worth $211,000 after purchasing an additional 1,750 shares in the last quarter. Algert Global LLC increased its holdings in shares of Landec by 2.3% during the third quarter. Algert Global LLC now owns 178,468 shares of the basic materials company’s stock valued at $2,570,000 after acquiring an additional 4,088 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Landec by 1.7% during the third quarter. Wells Fargo & Company MN now owns 269,793 shares of the basic materials company’s stock valued at $3,885,000 after acquiring an additional 4,470 shares in the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of Landec by 5.5% during the third quarter. Chartwell Investment Partners LLC now owns 112,254 shares of the basic materials company’s stock valued at $1,616,000 after acquiring an additional 5,865 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its holdings in shares of Landec by 55.0% during the third quarter. MetLife Investment Advisors LLC now owns 21,719 shares of the basic materials company’s stock valued at $313,000 after acquiring an additional 7,709 shares in the last quarter. 86.58% of the stock is currently owned by institutional investors.

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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