Prudential Financial Inc. Acquires 33,172 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Prudential Financial Inc. increased its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 77.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,247 shares of the basic materials company’s stock after buying an additional 33,172 shares during the period. Prudential Financial Inc. owned 0.16% of Cal-Maine Foods worth $7,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in shares of Cal-Maine Foods by 88.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 340,155 shares of the basic materials company’s stock valued at $25,457,000 after purchasing an additional 159,787 shares during the period. American Century Companies Inc. lifted its stake in Cal-Maine Foods by 12.7% in the 4th quarter. American Century Companies Inc. now owns 1,266,621 shares of the basic materials company’s stock worth $130,361,000 after purchasing an additional 143,189 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Cal-Maine Foods by 652.6% in the third quarter. Two Sigma Advisers LP now owns 160,300 shares of the basic materials company’s stock worth $11,997,000 after buying an additional 139,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Cal-Maine Foods by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 4,905,606 shares of the basic materials company’s stock valued at $504,885,000 after acquiring an additional 118,162 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted 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 valued at $53,272,000 after purchasing an additional 76,387 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

Analysts Set New Price Targets

CALM has been the topic of several research reports. StockNews.com cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Stephens restated an “equal weight” rating and set a $97.00 price target on shares of Cal-Maine Foods in a research report on Thursday, March 6th.

Cal-Maine Foods Price Performance

Shares of CALM opened at $91.01 on Friday. Cal-Maine Foods, Inc. has a 1 year low of $55.00 and a 1 year high of $116.41. The stock has a 50 day simple moving average of $97.15 and a two-hundred day simple moving average of $94.42. The firm has a market cap of $4.46 billion, a P/E ratio of 7.08 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.42. The company 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 firm’s revenue was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. On average, equities analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Insider Activity

In other news, Director Letitia Callender Hughes sold 809 shares of the firm’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 value of $88,965.73. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.45% of the company’s stock.

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.