Cadence Wealth Management LLC Decreases Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Cadence Wealth Management LLC lessened its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 47.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,063 shares of the basic materials company’s stock after selling 2,712 shares during the quarter. Cadence Wealth Management LLC’s holdings in Cal-Maine Foods were worth $315,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CALM. Quarry LP lifted its stake 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 lifted its stake in Cal-Maine Foods by 339.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 797 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Cal-Maine Foods during the fourth quarter worth approximately $134,000. GAMMA Investing LLC lifted its stake in Cal-Maine Foods by 24.3% during the fourth quarter. GAMMA Investing LLC now owns 1,368 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 267 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Cal-Maine Foods by 350.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 1,118 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. Stephens reissued an “equal weight” rating and issued a $97.00 price objective on shares of Cal-Maine Foods in a report on Thursday, March 6th.

Insider Activity

In other news, Director Letitia Callender Hughes sold 809 shares of Cal-Maine Foods 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 sale, the director now owns 42,761 shares of the company’s stock, valued at $4,702,427.17. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.45% of the company’s stock.

Cal-Maine Foods Stock Performance

NASDAQ CALM opened at $91.70 on Tuesday. The firm has a market cap of $4.50 billion, a PE ratio of 7.14 and a beta of -0.12. Cal-Maine Foods, Inc. has a one year low of $55.00 and a one year high of $116.41. The firm’s fifty day moving average is $100.18 and its two-hundred day moving average is $93.27.

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, beating the consensus estimate of $4.05 by $0.42. The business had revenue of $954.70 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 82.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Research analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

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.