Cal-Maine Foods, Inc. (NASDAQ:CALM) Shares Sold by Covestor Ltd

Covestor Ltd reduced its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 57.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,806 shares of the basic materials company’s stock after selling 2,412 shares during the period. Covestor Ltd’s holdings in Cal-Maine Foods were worth $186,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CALM. Smartleaf Asset Management LLC increased its holdings in Cal-Maine Foods by 339.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 797 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Cal-Maine Foods during the fourth quarter worth approximately $134,000. GAMMA Investing LLC increased its stake in shares of Cal-Maine Foods by 24.3% in the fourth quarter. GAMMA Investing LLC now owns 1,368 shares of the basic materials company’s stock worth $141,000 after buying an additional 267 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Cal-Maine Foods by 350.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 1,118 shares in the last quarter. Finally, KBC Group NV boosted its stake in Cal-Maine Foods by 59.8% during the 4th quarter. KBC Group NV now owns 1,681 shares of the basic materials company’s stock valued at $173,000 after acquiring an additional 629 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Stock Performance

Shares of CALM opened at $94.68 on Friday. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 7.37 and a beta of 0.11. The firm has a fifty day moving average of $93.03 and a 200-day moving average of $95.83. Cal-Maine Foods, Inc. has a 1 year low of $55.15 and a 1 year high of $116.41.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Tuesday, April 8th. The basic materials company reported $10.38 EPS for the quarter, beating analysts’ consensus estimates of $5.79 by $4.59. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $953.76 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The company’s quarterly revenue was up 101.6% compared to the same quarter last year. During the same period last year, the company earned $3.00 earnings per share. Analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Insider Transactions at Cal-Maine Foods

In other news, Director Letitia Callender Hughes sold 809 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total value of $88,965.73. Following the sale, the director now owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Stephens reissued an “equal weight” rating and issued a $97.00 target price on shares of Cal-Maine Foods in a research report on Thursday, March 6th. StockNews.com downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Thursday.

About Cal-Maine Foods

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.