Pacer Advisors Inc. Cuts Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Pacer Advisors Inc. lessened its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 22.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,216,550 shares of the basic materials company’s stock after selling 345,122 shares during the period. Pacer Advisors Inc. owned 2.48% of Cal-Maine Foods worth $125,207,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Neo Ivy Capital Management acquired a new position in shares of Cal-Maine Foods during the third quarter valued at approximately $788,000. Friedenthal Financial acquired a new stake in Cal-Maine Foods during the 4th quarter worth $765,000. Inspire Investing LLC grew its holdings in shares of Cal-Maine Foods by 112.4% during the fourth quarter. Inspire Investing LLC now owns 11,805 shares of the basic materials company’s stock worth $1,215,000 after buying an additional 6,247 shares in the last quarter. Centiva Capital LP acquired a new stake in shares of Cal-Maine Foods in the third quarter valued at about $491,000. Finally, Franklin Resources Inc. lifted its stake in shares of Cal-Maine Foods by 91.7% in the third quarter. Franklin Resources Inc. now owns 62,979 shares of the basic materials company’s stock worth $4,713,000 after buying an additional 30,122 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Letitia Callender Hughes sold 809 shares of Cal-Maine Foods stock in a transaction that occurred on 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 sale, the director now owns 42,761 shares in the company, valued at approximately $4,702,427.17. This trade represents a 1.86 % decrease in their position. 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.

Wall Street Analyst Weigh In

CALM has been the subject of several research reports. Stephens started coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective for the company. StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $106.70 on Monday. The company’s 50-day moving average is $103.38 and its two-hundred day moving average is $86.27. Cal-Maine Foods, Inc. has a 1-year low of $54.53 and a 1-year high of $116.41. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 8.30 and a beta of -0.11.

Cal-Maine Foods (NASDAQ:CALM) last posted 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. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The company had revenue of $954.70 million during the quarter, compared to analysts’ expectations of $751.50 million. During the same quarter last year, the firm earned $0.35 earnings per share. The firm’s quarterly revenue was up 82.5% compared to the same quarter last year. As a group, equities analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current fiscal year.

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.