Landec Corp. (LNDC) VP Gregory S. Skinner Sells 50,000 Shares
Landec Corp. (NASDAQ:LNDC) VP Gregory S. Skinner sold 50,000 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $13.99, for a total value of $699,500.00. Following the completion of the sale, the vice president now owns 239,084 shares in the company, valued at approximately $3,344,785.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Landec Corp. (NASDAQ:LNDC) opened at 14.00 on Tuesday. Landec Corp. has a one year low of $9.48 and a one year high of $14.70. The firm’s 50-day moving average price is $13.42 and its 200 day moving average price is $12.12. The stock’s market cap is $381.37 million.
Landec Corp. (NASDAQ:LNDC) last posted its quarterly earnings data on Tuesday, September 27th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. Landec Corp. had a positive return on equity of 4.74% and a negative net margin of 2.10%. The business had revenue of $132.40 million for the quarter. During the same quarter last year, the business earned $0.11 EPS. Landec Corp.’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts expect that Landec Corp. will post $0.57 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in shares of Landec Corp. by 0.7% in the third quarter. Rhumbline Advisers now owns 36,172 shares of the company’s stock worth $485,000 after buying an additional 240 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Landec Corp. by 0.9% in the third quarter. California State Teachers Retirement System now owns 56,587 shares of the company’s stock worth $759,000 after buying an additional 500 shares during the last quarter. Foundry Partners LLC raised its position in Landec Corp. by 0.3% in the second quarter. Foundry Partners LLC now owns 263,925 shares of the company’s stock valued at $2,840,000 after buying an additional 850 shares during the period. Wells Fargo & Company MN raised its position in Landec Corp. by 0.9% in the third quarter. Wells Fargo & Company MN now owns 188,965 shares of the company’s stock valued at $2,534,000 after buying an additional 1,645 shares during the period. Finally, Prudential Financial Inc. raised its position in Landec Corp. by 8.8% in the second quarter. Prudential Financial Inc. now owns 27,094 shares of the company’s stock valued at $292,000 after buying an additional 2,200 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.
Separately, Zacks Investment Research upgraded Landec Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $14.40.
Landec Corp. Company Profile
Landec Corporation designs, develops, manufactures and sells a range of health and wellness products for food and biomaterials markets. The Company licenses technology applications to partners. The Company operates through three segments: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry.
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