Cal-Maine Foods, Inc. (NASDAQ:CALM) Shares Sold by Covestor Ltd

Covestor Ltd trimmed its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 20.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,218 shares of the basic materials company’s stock after selling 1,061 shares during the quarter. Covestor Ltd’s holdings in Cal-Maine Foods were worth $316,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. raised its position in Cal-Maine Foods by 6.6% during the third quarter. Assetmark Inc. now owns 77,733 shares of the basic materials company’s stock worth $5,818,000 after acquiring an additional 4,795 shares during the period. Cozad Asset Management Inc. increased its stake in shares of Cal-Maine Foods by 5.8% during the third quarter. Cozad Asset Management Inc. now owns 29,913 shares of the basic materials company’s stock worth $2,239,000 after purchasing an additional 1,652 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Cal-Maine Foods during the 3rd quarter worth about $212,000. Harbor Capital Advisors Inc. purchased a new position in Cal-Maine Foods in the 3rd quarter valued at about $29,000. Finally, New York State Teachers Retirement System boosted its holdings in Cal-Maine Foods by 5.9% in the 3rd quarter. New York State Teachers Retirement System now owns 51,220 shares of the basic materials company’s stock worth $3,833,000 after buying an additional 2,860 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

CALM opened at $90.95 on Friday. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 10.42 and a beta of -0.12. The company’s 50 day simple moving average is $81.30 and its two-hundred day simple moving average is $69.57. Cal-Maine Foods, Inc. has a 1-year low of $45.07 and a 1-year high of $95.06.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). The company had revenue of $785.87 million for 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 business’s quarterly revenue was up 71.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 EPS. On average, equities analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CALM shares. Stephens assumed coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 target price for the company. The Goldman Sachs Group increased their price objective on 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, StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Thursday.

Insider Activity

In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the firm’s stock in a transaction dated 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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.