Zacks: Analysts Anticipate Landec Co. (NASDAQ:LNDC) Will Announce Quarterly Sales of $130.06 Million

Equities research analysts expect that Landec Co. (NASDAQ:LNDC) will post sales of $130.06 million for the current quarter, according to Zacks. Four analysts have provided estimates for Landec’s earnings. The highest sales estimate is $135.94 million and the lowest is $123.20 million. Landec posted sales of $156.13 million during the same quarter last year, which suggests a negative year over year growth rate of 16.7%. The company is scheduled to report its next quarterly earnings results on Tuesday, August 10th.

According to Zacks, analysts expect that Landec will report full-year sales of $534.57 million for the current year, with estimates ranging from $527.50 million to $541.98 million. For the next year, analysts anticipate that the firm will report sales of $555.98 million, with estimates ranging from $530.91 million to $568.76 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Landec.

Landec (NASDAQ:LNDC) last released its earnings results on Tuesday, April 6th. The basic materials company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.11). Landec had a negative net margin of 8.85% and a negative return on equity of 0.04%.

LNDC has been the topic of several research analyst reports. Roth Capital lowered their target price on Landec from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday. TheStreet cut Landec from a “c” rating to a “d+” rating in a research note on Friday, April 9th. Zacks Investment Research raised Landec from a “sell” rating to a “hold” rating in a research note on Tuesday, March 16th. Finally, Lake Street Capital lowered their price target on Landec from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, April 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $12.75.

NASDAQ:LNDC opened at $11.20 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.89 and a quick ratio of 0.48. Landec has a fifty-two week low of $7.48 and a fifty-two week high of $12.24. The stock’s 50-day moving average is $11.05 and its two-hundred day moving average is $10.73. The stock has a market cap of $328.53 million, a PE ratio of -6.44, a price-to-earnings-growth ratio of 33.84 and a beta of 1.04.

In related news, VP James G. Hall bought 10,000 shares of Landec stock in a transaction that occurred on Wednesday, April 14th. The stock was purchased at an average cost of $10.62 per share, for a total transaction of $106,200.00. Following the acquisition, the vice president now owns 39,151 shares in the company, valued at $415,783.62. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Albert D. Bolles bought 9,000 shares of Landec stock in a transaction that occurred on Wednesday, April 14th. The stock was bought at an average price of $10.61 per share, with a total value of $95,490.00. Following the completion of the acquisition, the chief executive officer now owns 45,152 shares in the company, valued at approximately $479,062.72. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 109,515 shares of company stock valued at $1,126,270. Corporate insiders own 11.89% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Landec by 7.8% during the fourth quarter. BlackRock Inc. now owns 2,091,030 shares of the basic materials company’s stock worth $22,688,000 after buying an additional 151,075 shares during the last quarter. Cove Street Capital LLC lifted its holdings in shares of Landec by 69.6% during the fourth quarter. Cove Street Capital LLC now owns 1,119,405 shares of the basic materials company’s stock worth $12,145,000 after buying an additional 459,223 shares during the last quarter. Kennedy Capital Management Inc. lifted its holdings in shares of Landec by 134.8% during the fourth quarter. Kennedy Capital Management Inc. now owns 1,071,367 shares of the basic materials company’s stock worth $11,624,000 after buying an additional 615,069 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Landec by 255.1% during the fourth quarter. Nuveen Asset Management LLC now owns 462,574 shares of the basic materials company’s stock worth $5,019,000 after buying an additional 332,295 shares during the last quarter. Finally, John G Ullman & Associates Inc. raised its stake in shares of Landec by 10.6% in the fourth quarter. John G Ullman & Associates Inc. now owns 366,867 shares of the basic materials company’s stock valued at $3,981,000 after purchasing an additional 35,082 shares in the last quarter. Institutional investors own 88.87% of the company’s stock.

About Landec

Landec Corporation, together with its subsidiaries, designs, develops, manufactures, and sells differentiated health and wellness products for food and biomaterials markets. It operates through Curation Foods and Lifecore segments. The Curation Foods segment engages in processing, marketing, and selling of vegetable-based salads, and fresh-cut and whole vegetable products primarily under the Eat Smart brand, O branded olive oils and wine vinegars, and Yucatan and Cabo Fresh guacamole and avocado food products, as well as various private labels.

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