Wall Street analysts predict that Landec Co. (NASDAQ:LNDC) will post $135.6 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Landec’s earnings. The highest sales estimate is $135.62 million and the lowest is $135.57 million. Landec posted sales of $135.31 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.2%. The firm is scheduled to announce its next earnings report on Tuesday, July 25th.
According to Zacks, analysts expect that Landec will report full year sales of $135.6 million for the current year, with estimates ranging from $540.4 million to $552.66 million. For the next year, analysts forecast that the company will post sales of $588.2 million per share, with estimates ranging from $574.62 million to $613.72 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Landec.
Landec (NASDAQ:LNDC) last released its quarterly earnings results on Tuesday, April 4th. The basic materials company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Landec had a negative net margin of 2.22% and a positive return on equity of 4.52%. The business had revenue of $136.60 million for the quarter, compared to the consensus estimate of $135.86 million. During the same period last year, the firm earned $0.01 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis.
LNDC has been the subject of several analyst reports. TheStreet upgraded shares of Landec from a “c+” rating to a “b” rating in a research note on Tuesday, April 25th. Griffin Securities reiterated a “buy” rating on shares of Landec in a research note on Thursday, April 6th. Zacks Investment Research cut shares of Landec from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th. Finally, Wedbush set a $13.00 target price on shares of Landec and gave the company a “hold” rating in a research note on Sunday, April 2nd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Landec presently has an average rating of “Buy” and a consensus target price of $14.33.
Landec (NASDAQ:LNDC) opened at 14.00 on Wednesday. The company has a market capitalization of $382.27 million, a P/E ratio of 29.91 and a beta of 1.20. The firm has a 50-day moving average of $13.23 and a 200 day moving average of $13.33. Landec has a 52-week low of $9.85 and a 52-week high of $15.50.
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In other news, COO Ronald Lane Midyett sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 11th. The shares were sold at an average price of $13.76, for a total transaction of $275,200.00. Following the completion of the sale, the chief operating officer now owns 84,469 shares of the company’s stock, valued at $1,162,293.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Fred Frank sold 3,025 shares of the company’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $14.00, for a total transaction of $42,350.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,025 shares of company stock valued at $426,190. Company insiders own 4.89% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. raised its stake in Landec by 43.1% in the first quarter. Pinnacle Associates Ltd. now owns 55,250 shares of the basic materials company’s stock worth $663,000 after buying an additional 16,650 shares during the last quarter. Congress Asset Management Co. MA raised its stake in Landec by 62.2% in the first quarter. Congress Asset Management Co. MA now owns 43,433 shares of the basic materials company’s stock worth $521,000 after buying an additional 16,655 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its stake in Landec by 22.1% in the first quarter. Pacific Ridge Capital Partners LLC now owns 277,062 shares of the basic materials company’s stock worth $3,325,000 after buying an additional 50,090 shares during the last quarter. Cutter & CO Brokerage Inc. raised its stake in Landec by 12.5% in the first quarter. Cutter & CO Brokerage Inc. now owns 32,400 shares of the basic materials company’s stock worth $389,000 after buying an additional 3,600 shares during the last quarter. Finally, Boston Partners raised its stake in Landec by 17.0% in the first quarter. Boston Partners now owns 530,400 shares of the basic materials company’s stock worth $6,364,000 after buying an additional 76,890 shares during the last quarter. 92.09% of the stock is owned by institutional investors and hedge funds.
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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