Boston Partners Reduces Position in Landec Co. (LNDC)
Boston Partners reduced its position in shares of Landec Co. (NASDAQ:LNDC) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,245 shares of the basic materials company’s stock after selling 25,140 shares during the period. Boston Partners’ holdings in Landec were worth $4,829,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new position in Landec during the 3rd quarter worth $141,000. Citigroup Inc. grew its stake in Landec by 489.6% during the 2nd quarter. Citigroup Inc. now owns 9,840 shares of the basic materials company’s stock worth $146,000 after buying an additional 8,171 shares during the last quarter. Citadel Advisors LLC bought a new position in Landec during the 3rd quarter worth $188,000. Alliancebernstein L.P. bought a new position in Landec during the 2nd quarter worth $241,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in Landec during the 3rd quarter worth $241,000. 94.23% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on LNDC shares. Zacks Investment Research downgraded Landec from a “hold” rating to a “sell” rating in a research note on Saturday, December 23rd. BidaskClub downgraded Landec from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. Sidoti started coverage on Landec in a research note on Wednesday, December 13th. They set a “buy” rating for the company. Finally, Maxim Group restated a “buy” rating and set a $18.00 price objective on shares of Landec in a research note on Wednesday, November 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.33.
Landec (NASDAQ:LNDC) last released its quarterly earnings results on Wednesday, January 3rd. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Landec had a return on equity of 3.75% and a net margin of 1.64%. The company had revenue of $136.50 million during the quarter, compared to analysts’ expectations of $135.82 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. research analysts expect that Landec Co. will post 0.5 EPS for the current year.
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Landec 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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