Ballentine Partners LLC acquired a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,069 shares of the basic materials company’s stock, valued at approximately $213,000.
A number of other hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its stake in Cal-Maine Foods by 3.0% during the 3rd quarter. State Street Corp now owns 1,609,388 shares of the basic materials company’s stock valued at $120,447,000 after purchasing an additional 46,187 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Cal-Maine Foods by 4.3% during the third quarter. Pacer Advisors Inc. now owns 1,561,672 shares of the basic materials company’s stock valued at $116,876,000 after buying an additional 64,489 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cal-Maine Foods by 1.1% during the third quarter. Geode Capital Management LLC now owns 988,599 shares of the basic materials company’s stock worth $74,000,000 after buying an additional 10,984 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Cal-Maine Foods by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 621,191 shares of the basic materials company’s stock valued at $46,490,000 after buying an additional 20,528 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Cal-Maine Foods by 88.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 340,155 shares of the basic materials company’s stock valued at $25,457,000 after acquiring an additional 159,787 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on CALM shares. Stephens began coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price target on the stock. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th.
Cal-Maine Foods Price Performance
NASDAQ CALM opened at $106.70 on Friday. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 8.30 and a beta of -0.11. The business’s fifty day moving average is $103.38 and its 200-day moving average is $86.11. Cal-Maine Foods, Inc. has a one year low of $54.53 and a one year high of $116.41.
Cal-Maine Foods (NASDAQ:CALM – Get Free Report) last released its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.42. The firm had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $751.50 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The company’s quarterly revenue was up 82.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share. Research analysts expect that Cal-Maine Foods, Inc. will post 8.54 EPS for the current fiscal year.
Insiders Place Their Bets
In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total transaction of $88,965.73. Following the sale, the director now directly owns 42,761 shares of the company’s stock, valued at $4,702,427.17. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 13.45% of the company’s stock.
Cal-Maine Foods 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.
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