Federated Hermes Inc. Reduces Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Federated Hermes Inc. reduced its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 99.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 941 shares of the basic materials company's stock after selling 158,385 shares during the quarter. Federated Hermes Inc.'s holdings in Cal-Maine Foods were worth $54,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in Cal-Maine Foods by 66.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,375,311 shares of the basic materials company's stock worth $136,319,000 after buying an additional 947,115 shares during the period. Diamond Hill Capital Management Inc. raised its stake in Cal-Maine Foods by 13.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,721,026 shares of the basic materials company's stock valued at $83,332,000 after purchasing an additional 210,556 shares during the last quarter. Nuance Investments LLC boosted its holdings in Cal-Maine Foods by 25.8% in the 3rd quarter. Nuance Investments LLC now owns 1,567,434 shares of the basic materials company's stock valued at $75,895,000 after purchasing an additional 321,438 shares during the period. Corient Private Wealth LLC grew its position in Cal-Maine Foods by 1.5% in the 3rd quarter. Corient Private Wealth LLC now owns 781,430 shares of the basic materials company's stock worth $37,837,000 after purchasing an additional 11,840 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Cal-Maine Foods by 2.3% during the 3rd quarter. Northern Trust Corp now owns 734,017 shares of the basic materials company's stock worth $35,541,000 after purchasing an additional 16,267 shares during the period. Institutional investors own 84.67% of the company's stock.

Insider Activity

In other Cal-Maine Foods news, Director James E. Poole sold 3,000 shares of Cal-Maine Foods stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the sale, the director now owns 11,670 shares of the company's stock, valued at approximately $652,469.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Charles Jeff Hardin sold 750 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $56.51, for a total transaction of $42,382.50. Following the completion of the sale, the executive vice president now owns 3,999 shares of the company's stock, valued at $225,983.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Poole sold 3,000 shares of the firm's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the completion of the transaction, the director now directly owns 11,670 shares of the company's stock, valued at $652,469.70. The disclosure for this sale can be found here. Insiders own 13.51% of the company's stock.

Analyst Ratings Changes

Separately, Stephens restated an "equal weight" rating and set a $65.00 price target on shares of Cal-Maine Foods in a research note on Wednesday, April 3rd.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM traded up $0.16 during midday trading on Tuesday, reaching $57.08. The company's stock had a trading volume of 441,903 shares, compared to its average volume of 660,148. Cal-Maine Foods, Inc. has a fifty-two week low of $42.25 and a fifty-two week high of $64.76. The business's fifty day simple moving average is $59.18 and its 200-day simple moving average is $54.99. The company has a market capitalization of $2.80 billion, a P/E ratio of 10.09 and a beta of -0.02.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its earnings results on Tuesday, April 2nd. The basic materials company reported $3.00 earnings per share for the quarter, topping analysts' consensus estimates of $2.45 by $0.55. The company had revenue of $703.08 million during the quarter, compared to the consensus estimate of $692.35 million. Cal-Maine Foods had a return on equity of 16.79% and a net margin of 11.61%. The firm's quarterly revenue was down 29.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.62 earnings per share. On average, analysts forecast that Cal-Maine Foods, Inc. will post 4.63 earnings per share for the current fiscal year.

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.