Cal-Maine Foods, Inc. (NASDAQ:CALM) Stake Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 2.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 23,226 shares of the basic materials company’s stock after selling 670 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cal-Maine Foods were worth $1,738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in Cal-Maine Foods in the 2nd quarter valued at about $25,000. Hexagon Capital Partners LLC raised its holdings in shares of Cal-Maine Foods by 57.0% during the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after buying an additional 155 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Cal-Maine Foods during the third quarter worth approximately $33,000. Quarry LP grew its holdings in Cal-Maine Foods by 1,975.0% in the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after buying an additional 553 shares in the last quarter. Finally, CWM LLC increased its position in Cal-Maine Foods by 120.1% in the 2nd quarter. CWM LLC now owns 625 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 341 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CALM shares. Stephens assumed coverage on Cal-Maine Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price target for the company. The Goldman Sachs Group increased their target price on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a research report on Wednesday, July 17th. Finally, StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the transaction, the vice president now owns 16,754 shares in the company, valued at approximately $1,188,361.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 13.45% of the company’s stock.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $87.11 on Friday. Cal-Maine Foods, Inc. has a 1 year low of $45.07 and a 1 year high of $95.06. The business’s fifty day moving average is $79.52 and its 200-day moving average is $68.49. The stock has a market cap of $4.27 billion, a PE ratio of 9.98 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.30). Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The business had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. During the same quarter last year, the firm posted $0.02 earnings per share. Cal-Maine Foods’s revenue was up 71.1% compared to the same quarter last 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.