Tocqueville Asset Management L.P. Purchases New Position in Landec Co. (NASDAQ:LNDC)

Tocqueville Asset Management L.P. purchased a new stake in Landec Co. (NASDAQ:LNDC) during the second quarter, according to its most recent filing with the SEC. The firm purchased 113,450 shares of the basic materials company’s stock, valued at approximately $1,063,000. Tocqueville Asset Management L.P. owned 0.39% of Landec at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in LNDC. Geode Capital Management LLC boosted its position in shares of Landec by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 278,111 shares of the basic materials company’s stock valued at $3,292,000 after acquiring an additional 14,642 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Landec by 420.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,543 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 7,709 shares during the period. Legal & General Group Plc boosted its position in shares of 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 acquiring an additional 1,401 shares during the period. Legato Capital Management LLC boosted its position in shares of Landec by 97.3% in the first quarter. Legato Capital Management LLC now owns 176,220 shares of the basic materials company’s stock valued at $2,164,000 after acquiring an additional 86,890 shares during the period. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Landec in the first quarter valued at about $239,000. Institutional investors and hedge funds own 90.68% of the company’s stock.

LNDC has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Landec from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. ValuEngine raised shares of Landec from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Maxim Group reaffirmed a “buy” rating and issued a $17.00 price target on shares of Landec in a research note on Wednesday, July 31st. BidaskClub raised Landec from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. Finally, Lake Street Capital dropped their price target on Landec from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $13.67.

In related news, Director Nelson Obus purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $10.50 per share, with a total value of $105,000.00. Following the completion of the purchase, the director now directly owns 27,915 shares in the company, valued at $293,107.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.04% of the stock is owned by insiders.

LNDC stock opened at $10.51 on Thursday. The firm has a market capitalization of $323.23 million, a P/E ratio of 32.84 and a beta of 0.77. The company has a 50-day moving average of $10.48. Landec Co. has a 52 week low of $9.02 and a 52 week high of $15.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.58 and a current ratio of 0.97.

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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