GAMMA Investing LLC Buys 154,980 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

GAMMA Investing LLC raised its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 11,328.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 156,348 shares of the basic materials company's stock after acquiring an additional 154,980 shares during the period. GAMMA Investing LLC owned approximately 0.32% of Cal-Maine Foods worth $14,212,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in shares of 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 period. Daiwa Securities Group Inc. purchased a new position in shares of Cal-Maine Foods during the 4th quarter worth about $134,000. Mascagni Wealth Management Inc. purchased a new position in shares of Cal-Maine Foods during the 4th quarter worth about $144,000. Colonial River Investments LLC purchased a new position in shares of Cal-Maine Foods during the 4th quarter worth about $203,000. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Cal-Maine Foods during the 4th quarter worth about $203,000. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Price Performance

Cal-Maine Foods stock opened at $98.13 on Friday. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 7.64 and a beta of 0.17. Cal-Maine Foods, Inc. has a 1 year low of $57.43 and a 1 year high of $116.41. The firm has a 50-day moving average of $94.40 and a two-hundred day moving average of $97.81.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings data on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.79 by $4.59. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $953.76 million. During the same period in the previous year, the company earned $3.00 EPS. The firm's quarterly revenue was up 101.6% on a year-over-year basis. Research analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Analyst Ratings Changes

CALM has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. BMO Capital Markets raised shares of Cal-Maine Foods to a "hold" rating in a research report on Tuesday, May 6th. Finally, Stephens reissued an "equal weight" rating and issued a $97.00 price objective on shares of Cal-Maine Foods in a research report on Wednesday, April 23rd.

Insider Transactions at Cal-Maine Foods

In other news, insider Adolphus B. Baker sold 140,266 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $90.60, for a total value of $12,708,099.60. Following the completion of the sale, the insider now owns 1,319,034 shares of the company's stock, valued at approximately $119,504,480.40. This represents a 9.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.45% of the company's 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.

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