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

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

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new position in Cal-Maine Foods during the 3rd quarter worth $29,000. Hantz Financial Services Inc. acquired a new stake in shares of Cal-Maine Foods in the 2nd quarter valued at $25,000. Hexagon Capital Partners LLC lifted its position in shares of Cal-Maine Foods by 57.0% during the 3rd 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. Krane Funds Advisors LLC purchased a new position in Cal-Maine Foods in the third quarter valued at $33,000. Finally, Quarry LP raised its stake in Cal-Maine Foods by 1,975.0% in the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock valued at $36,000 after buying an additional 553 shares in the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Stock Up 1.8 %

Shares of CALM stock opened at $90.95 on Friday. The stock’s 50-day moving average price is $81.30 and its 200 day moving average price is $69.57. Cal-Maine Foods, Inc. has a 52-week low of $45.07 and a 52-week high of $95.06. The stock has a market capitalization of $4.46 billion, a PE ratio of 10.42 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). The firm had revenue of $785.87 million for the quarter, compared to analyst estimates of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The company’s revenue was up 71.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. Analysts expect that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current fiscal year.

Insider Transactions at Cal-Maine Foods

In related 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 stock was sold at an average price of $70.93, for a total value of $106,395.00. Following the sale, the vice president now directly owns 16,754 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. Company insiders own 13.45% of the company’s stock.

Wall Street Analyst Weigh In

CALM has been the topic of several recent analyst reports. Stephens initiated coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price target on the stock. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group lifted their target price on Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research report on Wednesday, July 17th.

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.