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

Cadence Wealth Management LLC lowered its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 47.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,063 shares of the basic materials company’s stock after selling 2,712 shares during the period. Cadence Wealth Management LLC’s holdings in Cal-Maine Foods were worth $315,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Cal-Maine Foods by 3.0% during the third 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% during the third quarter. Pacer Advisors Inc. now owns 1,561,672 shares of the basic materials company’s stock worth $116,876,000 after acquiring an additional 64,489 shares during the last quarter. Geode Capital Management LLC raised its position in Cal-Maine Foods by 1.1% during the third quarter. Geode Capital Management LLC now owns 988,599 shares of the basic materials company’s stock worth $74,000,000 after acquiring an additional 10,984 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Cal-Maine Foods by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 644,130 shares of the basic materials company’s stock worth $66,294,000 after acquiring an additional 22,939 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Cal-Maine Foods by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 517,609 shares of the basic materials company’s stock worth $53,272,000 after acquiring an additional 76,387 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Insider Activity

In related news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total transaction of $88,965.73. Following the completion of the transaction, the director now owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.45% of the company’s stock.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $91.70 on Tuesday. The firm has a 50 day simple moving average of $100.18 and a 200-day simple moving average of $93.27. 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 1-year low of $55.00 and a 1-year high of $116.41.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.42. The business had revenue of $954.70 million during the quarter, compared to analyst estimates of $751.50 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The company’s revenue was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 earnings per share. As a group, sell-side analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CALM shares. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th. Stephens restated an “equal weight” rating and set a $97.00 target price on shares of Cal-Maine Foods in a research report on Thursday, March 6th.

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.