State of New Jersey Common Pension Fund D Sells 2,917 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 9.5% during the 3rd quarter, Holdings Channel reports. The fund owned 27,789 shares of the basic materials company’s stock after selling 2,917 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cal-Maine Foods were worth $2,080,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Hantz Financial Services Inc. bought a new position in shares of Cal-Maine Foods during the second quarter valued at approximately $25,000. Harbor Capital Advisors Inc. purchased a new position in shares of Cal-Maine Foods in the 3rd quarter valued at $29,000. Hexagon Capital Partners LLC raised its position in shares of Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Cal-Maine Foods during the third quarter valued at about $33,000. Finally, Quarry LP grew its stake in 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 purchasing an additional 553 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Insider Activity

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 value of $106,395.00. Following the completion of the transaction, the vice president now directly owns 16,754 shares in the company, valued at $1,188,361.22. This trade represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 13.45% of the company’s stock.

Cal-Maine Foods Stock Performance

Cal-Maine Foods stock opened at $90.43 on Friday. The stock has a market cap of $4.43 billion, a PE ratio of 10.36 and a beta of -0.12. The stock has a 50-day moving average of $83.42 and a two-hundred day moving average of $70.65. Cal-Maine Foods, Inc. has a one year low of $45.07 and a one year high of $95.06.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CALM shares. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Friday. Stephens started coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price target on the stock.

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.