Landec Corporation (LNDC) Shares Bought by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company increased its holdings in shares of Landec Corporation (NASDAQ:LNDC) by 0.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,688 shares of the basic materials company’s stock after purchasing an additional 110 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Landec worth $336,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its position in Landec by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 106,809 shares of the basic materials company’s stock worth $1,587,000 after purchasing an additional 589 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in Landec by 1.0% in the second quarter. TIAA CREF Investment Management LLC now owns 75,251 shares of the basic materials company’s stock valued at $1,117,000 after acquiring an additional 745 shares in the last quarter. First Interstate Bank grew its position in Landec by 9.1% in the second quarter. First Interstate Bank now owns 16,865 shares of the basic materials company’s stock valued at $250,000 after acquiring an additional 1,405 shares in the last quarter. Voya Investment Management LLC grew its position in Landec by 8.0% in the second quarter. Voya Investment Management LLC now owns 21,679 shares of the basic materials company’s stock valued at $322,000 after acquiring an additional 1,603 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Landec by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 48,065 shares of the basic materials company’s stock valued at $577,000 after acquiring an additional 2,311 shares in the last quarter. 93.83% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on LNDC. Zacks Investment Research downgraded shares of Landec from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Maxim Group reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Landec in a research report on Wednesday. Wedbush reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Landec in a research report on Thursday, September 28th. Finally, BidaskClub raised shares of Landec from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $15.33.
Landec (NASDAQ:LNDC) last issued its quarterly earnings data on Tuesday, September 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Landec had a net margin of 1.80% and a return on equity of 4.17%. The company had revenue of $123.40 million during the quarter, compared to the consensus estimate of $123.00 million. During the same quarter last year, the company earned $0.12 earnings per share. Landec’s revenue for the quarter was down 6.8% on a year-over-year basis. equities research analysts forecast that Landec Corporation will post 0.54 EPS for the current fiscal year.
In other news, CEO Molly Hemmeter sold 7,399 shares of the stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $13.06, for a total transaction of $96,630.94. Following the completion of the transaction, the chief executive officer now directly owns 53,017 shares in the company, valued at approximately $692,402.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 4.62% of the company’s stock.
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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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