Thomson Horstmann & Bryant Inc. Grows Position in Landec Co. (LNDC)

Thomson Horstmann & Bryant Inc. raised its holdings in shares of Landec Co. (NASDAQ:LNDC) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 741,188 shares of the basic materials company’s stock after purchasing an additional 9,079 shares during the period. Landec comprises about 1.2% of Thomson Horstmann & Bryant Inc.’s portfolio, making the stock its 27th largest holding. Thomson Horstmann & Bryant Inc. owned approximately 2.69% of Landec worth $9,338,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Landec during the third quarter worth about $141,000. Citigroup Inc. grew its position in shares of Landec by 489.6% during the second quarter. Citigroup Inc. now owns 9,840 shares of the basic materials company’s stock worth $146,000 after acquiring an additional 8,171 shares during the last quarter. Acrospire Investment Management LLC grew its position in shares of Landec by 185.8% during the second quarter. Acrospire Investment Management LLC now owns 10,722 shares of the basic materials company’s stock worth $159,000 after acquiring an additional 6,971 shares during the last quarter. Zacks Investment Management acquired a new stake in Landec in the second quarter worth about $167,000. Finally, Citadel Advisors LLC acquired a new stake in Landec in the third quarter worth about $188,000. Hedge funds and other institutional investors own 93.73% of the company’s stock.

In other news, CEO Molly Hemmeter sold 7,399 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $13.06, for a total value of $96,630.94. Following the transaction, the chief executive officer now owns 53,017 shares in the company, valued at approximately $692,402.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.62% of the stock is owned by corporate insiders.

Several research firms recently weighed in on LNDC. Wedbush reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Landec in a report on Thursday, September 28th. Zacks Investment Research downgraded shares of Landec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 25th. Maxim Group reissued a “buy” rating and issued a $18.00 price target on shares of Landec in a report on Wednesday, November 29th. BidaskClub downgraded shares of Landec from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th. Finally, Sidoti assumed coverage on shares of Landec in a report on Wednesday, December 13th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $15.33.

Landec Co. (NASDAQ LNDC) traded down $0.20 during mid-day trading on Wednesday, reaching $12.60. 57,100 shares of the company’s stock were exchanged, compared to its average volume of 99,240. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.19. Landec Co. has a 52 week low of $11.20 and a 52 week high of $14.95. The stock has a market capitalization of $352.43, a price-to-earnings ratio of 39.38 and a beta of 1.22.

Landec (NASDAQ:LNDC) last issued its earnings results on Wednesday, January 3rd. The basic materials company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $136.50 million for the quarter, compared to the consensus estimate of $135.82 million. Landec had a return on equity of 3.75% and a net margin of 1.64%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. analysts forecast that Landec Co. will post 0.52 EPS for the current year.

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Landec 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.

Institutional Ownership by Quarter for Landec (NASDAQ:LNDC)

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