Bank of New York Mellon Corp raised its holdings in shares of Landec Corporation (NASDAQ:LNDC) by 21.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 209,579 shares of the basic materials company’s stock after purchasing an additional 37,603 shares during the period. Bank of New York Mellon Corp owned 0.76% of Landec Corporation worth $3,113,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in Landec Corporation by 17.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 182,840 shares of the basic materials company’s stock valued at $2,715,000 after purchasing an additional 26,794 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Landec Corporation by 5.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 106,220 shares of the basic materials company’s stock valued at $1,275,000 after purchasing an additional 5,301 shares during the period. Goldman Sachs Group Inc. lifted its position in Landec Corporation by 5.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 48,065 shares of the basic materials company’s stock valued at $577,000 after purchasing an additional 2,311 shares during the period. Foundry Partners LLC lifted its position in Landec Corporation by 0.8% during the 2nd quarter. Foundry Partners LLC now owns 412,990 shares of the basic materials company’s stock valued at $6,133,000 after purchasing an additional 3,275 shares during the period. Finally, Geode Capital Management LLC lifted its position in Landec Corporation by 4.8% during the 1st quarter. Geode Capital Management LLC now owns 212,842 shares of the basic materials company’s stock valued at $2,554,000 after purchasing an additional 9,813 shares during the period. Institutional investors own 92.07% of the company’s stock.

A number of research analysts have issued reports on LNDC shares. Maxim Group restated a “buy” rating and set a $18.00 target price on shares of Landec Corporation in a research report on Tuesday, September 26th. TheStreet downgraded shares of Landec Corporation from a “b” rating to a “c+” rating in a research report on Monday, July 31st. Wedbush restated a “hold” rating and set a $13.00 target price on shares of Landec Corporation in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of Landec Corporation from a “sell” rating to a “hold” rating and set a $15.00 target price on the stock in a research report on Wednesday, September 27th. Finally, BidaskClub downgraded shares of Landec Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Landec Corporation presently has an average rating of “Hold” and an average target price of $15.33.

Shares of Landec Corporation (NASDAQ LNDC) opened at 12.90 on Tuesday. The company has a 50 day moving average of $12.79 and a 200-day moving average of $13.45. Landec Corporation has a 12 month low of $11.20 and a 12 month high of $15.50. The firm has a market capitalization of $354.83 million, a P/E ratio of 33.95 and a beta of 1.29.

Landec Corporation (NASDAQ:LNDC) last issued its earnings results on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Landec Corporation had a return on equity of 4.17% and a net margin of 1.80%. The company had revenue of $123.40 million for the quarter, compared to analyst estimates of $123.00 million. During the same period in the prior year, the firm earned $0.12 earnings per share. Landec Corporation’s revenue for the quarter was down 6.8% on a year-over-year basis. Analysts predict that Landec Corporation will post $0.55 EPS for the current year.

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Landec Corporation 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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Institutional Ownership by Quarter for Landec Corporation (NASDAQ:LNDC)

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