Hennion & Walsh Asset Management Inc. Raises Stock Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Hennion & Walsh Asset Management Inc. boosted its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 68.3% during the third quarter, HoldingsChannel reports. The firm owned 15,919 shares of the basic materials company’s stock after buying an additional 6,460 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Cal-Maine Foods were worth $1,191,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Axiom Advisory LLC lifted its holdings in shares of Cal-Maine Foods by 3.3% during the 3rd quarter. Axiom Advisory LLC now owns 4,061 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 128 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in 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 worth $32,000 after purchasing an additional 155 shares during the last quarter. Garner Asset Management Corp lifted its stake in Cal-Maine Foods by 0.9% during the second quarter. Garner Asset Management Corp now owns 20,252 shares of the basic materials company’s stock worth $1,238,000 after purchasing an additional 183 shares during the last quarter. Regal Investment Advisors LLC boosted its holdings in shares of Cal-Maine Foods by 3.9% in the 2nd quarter. Regal Investment Advisors LLC now owns 5,404 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 203 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Cal-Maine Foods by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 11,765 shares of the basic materials company’s stock valued at $719,000 after purchasing an additional 230 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Price Performance

CALM opened at $89.43 on Friday. Cal-Maine Foods, Inc. has a 1 year low of $44.78 and a 1 year high of $95.06. The stock’s 50 day simple moving average is $77.81 and its 200 day simple moving average is $67.56. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 15.86 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last issued its 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). The firm had revenue of $785.87 million during the quarter, compared to analysts’ expectations of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The firm’s quarterly revenue was up 71.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 earnings per share.

Insider Activity

In related news, COO Michael Todd Walters sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total value of $210,600.00. Following the sale, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at $372,762. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the transaction, the chief operating officer now owns 5,310 shares in the company, valued at $372,762. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert L. Holladay, Jr. sold 1,500 shares of Cal-Maine Foods stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total transaction of $106,395.00. Following the completion of the sale, the vice president now owns 16,754 shares in the company, valued at approximately $1,188,361.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 13.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CALM. StockNews.com lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group upped their price objective on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a research note on Wednesday, July 17th. Finally, Stephens initiated coverage on shares of Cal-Maine Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 target price on the stock.

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.