Wellington Management Group LLP Makes New $391,000 Investment in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Wellington Management Group LLP bought a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,799 shares of the basic materials company's stock, valued at approximately $391,000.

Several other large investors also recently modified their holdings of CALM. Mascagni Wealth Management Inc. acquired a new position in Cal-Maine Foods in the fourth quarter valued at about $144,000. Jefferies Financial Group Inc. increased its holdings in Cal-Maine Foods by 255.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 19,884 shares of the basic materials company's stock valued at $2,046,000 after buying an additional 14,284 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Cal-Maine Foods in the 4th quarter valued at approximately $1,733,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Cal-Maine Foods by 27.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,686 shares of the basic materials company's stock worth $7,995,000 after acquiring an additional 16,650 shares during the period. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Cal-Maine Foods during the 4th quarter worth approximately $3,180,000. 84.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. BMO Capital Markets upgraded shares of Cal-Maine Foods to a "hold" rating in a research report on Tuesday, May 6th. Stephens reiterated an "equal weight" rating and issued a $97.00 price target on shares of Cal-Maine Foods in a research note on Wednesday, April 23rd. Finally, Wall Street Zen downgraded Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st.

Insiders Place Their Bets

In related 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 sale, the insider now directly owns 1,319,034 shares in the company, valued at $119,504,480.40. This trade represents a 9.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.45% of the company's stock.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM opened at $98.13 on Friday. Cal-Maine Foods, Inc. has a one year low of $57.43 and a one year high of $116.41. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 7.64 and a beta of 0.17. The firm has a 50 day simple moving average of $94.40 and a 200 day simple moving average of $97.83.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $953.76 million. During the same period in the prior year, the business earned $3.00 earnings per share. The company's revenue for the quarter was up 101.6% compared to the same quarter last year. As a group, analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

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.

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