Point72 Hong Kong Ltd bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,385 shares of the basic materials company's stock, valued at approximately $1,275,000.
A number of other hedge funds also recently modified their holdings of CALM. Smartleaf Asset Management LLC lifted 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 buying an additional 797 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in Cal-Maine Foods in the 4th quarter valued at about $134,000. Nisa Investment Advisors LLC increased its holdings in Cal-Maine Foods by 350.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company's stock valued at $148,000 after buying an additional 1,118 shares during the period. KBC Group NV increased its holdings in Cal-Maine Foods by 59.8% in the 4th quarter. KBC Group NV now owns 1,681 shares of the basic materials company's stock valued at $173,000 after buying an additional 629 shares during the period. Finally, Colonial River Investments LLC bought a new position in Cal-Maine Foods in the 4th quarter valued at about $203,000. Institutional investors and hedge funds own 84.67% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. BMO Capital Markets raised shares of Cal-Maine Foods to a "hold" rating in a report on Tuesday, May 6th. StockNews.com raised shares of Cal-Maine Foods from a "hold" rating to a "buy" rating in a report on Saturday, May 10th. Finally, Stephens reissued an "equal weight" rating and issued a $97.00 target price on shares of Cal-Maine Foods in a report on Wednesday, April 23rd.
View Our Latest Research Report on CALM
Cal-Maine Foods Stock Performance
Shares of Cal-Maine Foods stock traded up $1.04 during midday trading on Wednesday, hitting $97.40. 178,946 shares of the company traded hands, compared to its average volume of 750,737. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 7.57 and a beta of 0.18. The firm's fifty day moving average price is $93.02 and its 200-day moving average price is $97.43. Cal-Maine Foods, Inc. has a 12 month low of $57.43 and a 12 month high of $116.41.
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, 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 for the quarter, compared to analyst estimates of $953.76 million. During the same period in the previous year, the firm posted $3.00 EPS. The firm's revenue was up 101.6% on a year-over-year basis. Equities research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.
Insider Transactions at Cal-Maine Foods
In other news, insider Adolphus B. Baker sold 140,266 shares of the business'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 transaction, the insider now owns 1,319,034 shares in the company, valued at approximately $119,504,480.40. The trade was 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.
About Cal-Maine Foods
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Free Report)
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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