Wedge Capital Management L L P NC Has $2.30 Million Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Wedge Capital Management L L P NC trimmed its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 47.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 25,341 shares of the basic materials company's stock after selling 22,920 shares during the period. Wedge Capital Management L L P NC owned approximately 0.05% of Cal-Maine Foods worth $2,303,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vest Financial LLC lifted its holdings in shares of Cal-Maine Foods by 77.7% during the 1st quarter. Vest Financial LLC now owns 41,861 shares of the basic materials company's stock worth $3,805,000 after acquiring an additional 18,308 shares during the period. Financial Management Professionals Inc. acquired a new stake in shares of Cal-Maine Foods during the 1st quarter worth about $30,000. Sendero Wealth Management LLC acquired a new stake in shares of Cal-Maine Foods during the 1st quarter worth about $205,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Cal-Maine Foods by 80.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 29,369 shares of the basic materials company's stock worth $2,670,000 after purchasing an additional 13,126 shares in the last quarter. Finally, Eldred Rock Partners LLC increased its position in shares of Cal-Maine Foods by 10.2% during the 1st quarter. Eldred Rock Partners LLC now owns 160,520 shares of the basic materials company's stock worth $14,598,000 after purchasing an additional 14,890 shares in the last quarter. 84.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Cal-Maine Foods Stock Performance

Shares of NASDAQ CALM traded up $1.55 during trading on Friday, reaching $96.38. The company had a trading volume of 642,307 shares, compared to its average volume of 754,758. Cal-Maine Foods, Inc. has a 52 week low of $57.56 and a 52 week high of $116.41. The stock has a market cap of $4.73 billion, a PE ratio of 7.50 and a beta of 0.17. The business's 50 day moving average price is $94.71 and its 200-day moving average price is $97.79.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its earnings results on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $953.76 million. During the same period in the previous year, the firm posted $3.00 earnings per share. The company's revenue was up 101.6% on a year-over-year basis. Equities analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CALM shares. Wall Street Zen cut shares of Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. Stephens reiterated an "equal weight" rating and set a $97.00 target price on shares of Cal-Maine Foods in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets upgraded shares of Cal-Maine Foods to a "hold" rating in a research report on Tuesday, May 6th.

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.