Wellington Management Group LLP Invests $391,000 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 Form 13F filing with the Securities & Exchange Commission. The fund bought 3,799 shares of the basic materials company's stock, valued at approximately $391,000.

Several other large investors also recently added to or reduced their stakes in CALM. Vanguard Group Inc. raised its position in Cal-Maine Foods by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 4,905,606 shares of the basic materials company's stock valued at $504,885,000 after purchasing an additional 118,162 shares in the last quarter. American Century Companies Inc. increased its position in Cal-Maine Foods by 12.7% during the 4th quarter. American Century Companies Inc. now owns 1,266,621 shares of the basic materials company's stock valued at $130,361,000 after purchasing an additional 143,189 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Cal-Maine Foods by 11.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 998,844 shares of the basic materials company's stock valued at $102,801,000 after purchasing an additional 104,512 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cal-Maine Foods by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 988,599 shares of the basic materials company's stock worth $74,000,000 after purchasing an additional 10,984 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Cal-Maine Foods by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 644,130 shares of the basic materials company's stock valued at $66,294,000 after purchasing an additional 22,939 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Stephens reissued an "equal weight" rating and issued a $97.00 price objective on shares of Cal-Maine Foods in a research note on Thursday, March 6th. StockNews.com cut Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Thursday, April 10th.

Insider Transactions at Cal-Maine Foods

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 value of $12,708,099.60. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 13.45% of the company's stock.

Cal-Maine Foods Stock Performance

NASDAQ:CALM traded down $1.01 during midday trading on Friday, reaching $91.49. 1,949,008 shares of the stock traded hands, compared to its average volume of 715,350. The business has a 50-day moving average of $91.33 and a two-hundred day moving average of $96.67. Cal-Maine Foods, Inc. has a 12-month low of $55.15 and a 12-month high of $116.41. The stock has a market capitalization of $4.49 billion, a PE ratio of 7.12 and a beta of 0.11.

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 the consensus estimate of $5.79 by $4.59. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $953.76 million. During the same period in the previous year, the business earned $3.00 EPS. The firm's revenue for the quarter was up 101.6% on a year-over-year basis. Research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share 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.