Amalgamated Bank Cuts Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Amalgamated Bank decreased its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 3.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,024 shares of the basic materials company’s stock after selling 424 shares during the period. Amalgamated Bank’s holdings in Cal-Maine Foods were worth $900,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new position in shares of Cal-Maine Foods during the 2nd quarter worth approximately $25,000. Harbor Capital Advisors Inc. purchased a new position in shares of Cal-Maine Foods during the 3rd quarter worth approximately $29,000. Hexagon Capital Partners LLC raised its position in Cal-Maine Foods by 57.0% in the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 155 shares during the period. Krane Funds Advisors LLC acquired a new position in Cal-Maine Foods during the third quarter worth $33,000. Finally, Quarry LP grew its stake in shares of Cal-Maine Foods by 1,975.0% in the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after buying an additional 553 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Stock Performance

CALM stock opened at $90.44 on Friday. Cal-Maine Foods, Inc. has a fifty-two week low of $45.07 and a fifty-two week high of $95.06. The company’s 50 day moving average price is $82.99 and its 200 day moving average price is $70.42. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 10.36 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.30). The firm had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. Cal-Maine Foods’s revenue for the quarter was up 71.1% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share. Equities analysts forecast that Cal-Maine Foods, Inc. will post 8.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total transaction of $106,395.00. Following the sale, the vice president now owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. This trade represents a 8.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.45% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stephens started coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 target price for the company. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Thursday, November 7th.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names.