Los Angeles Capital Management LLC Raises Stock Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Los Angeles Capital Management LLC raised its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 27,871 shares of the basic materials company’s stock after acquiring an additional 330 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Cal-Maine Foods were worth $2,086,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CALM. Texas Permanent School Fund Corp grew its stake in Cal-Maine Foods by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 35,575 shares of the basic materials company’s stock worth $2,094,000 after buying an additional 461 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Cal-Maine Foods by 825.1% during the 1st quarter. Russell Investments Group Ltd. now owns 3,904 shares of the basic materials company’s stock valued at $230,000 after purchasing an additional 3,482 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Cal-Maine Foods by 7.3% in the first quarter. ProShare Advisors LLC now owns 8,268 shares of the basic materials company’s stock worth $487,000 after buying an additional 566 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Cal-Maine Foods by 30.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 14,280 shares of the basic materials company’s stock worth $870,000 after buying an additional 3,357 shares during the period. Finally, Chesapeake Capital Corp IL grew its holdings in shares of Cal-Maine Foods by 3.7% during the first quarter. Chesapeake Capital Corp IL now owns 12,442 shares of the basic materials company’s stock valued at $732,000 after buying an additional 448 shares during the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Stephens initiated coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 target price for the company. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price target on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research report on Wednesday, July 17th.

Cal-Maine Foods Stock Performance

NASDAQ CALM opened at $91.29 on Thursday. The firm has a market capitalization of $4.48 billion, a P/E ratio of 10.46 and a beta of -0.12. The stock has a 50-day simple moving average of $82.56 and a two-hundred day simple moving average of $70.28. Cal-Maine Foods, Inc. has a fifty-two week low of $45.07 and a fifty-two week high of $95.06.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.30). Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The company had revenue of $785.87 million for the quarter, compared to analysts’ expectations of $704.65 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. The firm’s revenue was up 71.1% compared to the same quarter last year. As a group, analysts forecast that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current year.

Insider Activity at Cal-Maine Foods

In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.45% of the company’s stock.

Cal-Maine Foods 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.