Letitia Callender Hughes Sells 809 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) Stock

Cal-Maine Foods, Inc. (NASDAQ:CALM) Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total transaction of $88,965.73. Following the completion of the sale, the director now directly owns 42,761 shares in the company, valued at $4,702,427.17. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Cal-Maine Foods Price Performance

CALM opened at $113.63 on Friday. Cal-Maine Foods, Inc. has a 1 year low of $53.38 and a 1 year high of $114.40. The stock has a 50-day moving average price of $101.36 and a 200-day moving average price of $84.24. The firm has a market cap of $5.57 billion, a PE ratio of 8.84 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 (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.42. The business had revenue of $954.70 million during the quarter, compared to analysts’ expectations of $751.50 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The business’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Hedge Funds Weigh In On Cal-Maine Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CALM. Dimensional Fund Advisors LP raised its stake in shares of Cal-Maine Foods by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock worth $159,863,000 after purchasing an additional 114,995 shares during the last quarter. State Street Corp increased its holdings in Cal-Maine Foods by 3.0% in the 3rd quarter. State Street Corp now owns 1,609,388 shares of the basic materials company’s stock worth $120,447,000 after buying an additional 46,187 shares in the last quarter. Pacer Advisors Inc. raised its position in Cal-Maine Foods by 4.3% in the 3rd quarter. Pacer Advisors Inc. now owns 1,561,672 shares of the basic materials company’s stock worth $116,876,000 after buying an additional 64,489 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cal-Maine Foods by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 988,599 shares of the basic materials company’s stock valued at $74,000,000 after acquiring an additional 10,984 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Cal-Maine Foods by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 621,191 shares of the basic materials company’s stock valued at $46,490,000 after acquiring an additional 20,528 shares during the last quarter. 84.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday. Stephens began coverage on 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.

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.