Sierra Summit Advisors LLC Purchases Shares of 5,646 Cal-Maine Foods, Inc. (NASDAQ:CALM)

Sierra Summit Advisors LLC acquired a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 5,646 shares of the basic materials company’s stock, valued at approximately $581,000.

Several other large investors have also modified their holdings of the stock. Quarry LP increased its position in Cal-Maine Foods by 32.5% during the third quarter. Quarry LP now owns 770 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 189 shares during the last quarter. Smartleaf Asset Management LLC grew 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 valued at $105,000 after buying an additional 797 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Cal-Maine Foods during the 4th quarter worth $134,000. GAMMA Investing LLC raised its position in shares of Cal-Maine Foods by 24.3% in the 4th quarter. GAMMA Investing LLC now owns 1,368 shares of the basic materials company’s stock worth $141,000 after buying an additional 267 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Cal-Maine Foods by 350.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 1,118 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Trading Down 0.7 %

Shares of CALM stock opened at $92.29 on Monday. The company’s fifty day simple moving average is $95.22 and its 200-day simple moving average is $95.37. Cal-Maine Foods, Inc. has a 52 week low of $55.15 and a 52 week high of $116.41. The company has a market cap of $4.53 billion, a PE ratio of 7.18 and a beta of 0.11.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.42. The company had revenue of $954.70 million during the quarter, compared to the consensus estimate of $751.50 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The company’s revenue was up 82.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. Equities research analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total value of $88,965.73. Following the completion of the transaction, the director now directly owns 42,761 shares of the company’s stock, valued at $4,702,427.17. This represents a 1.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 13.45% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CALM shares. Stephens restated an “equal weight” rating and set a $97.00 price target on shares of Cal-Maine Foods in a research note on Thursday, March 6th. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd.

Cal-Maine Foods Company 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.