Harvest Fund Management Co. Ltd Raises Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Harvest Fund Management Co. Ltd lifted its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 146.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,933 shares of the basic materials company's stock after purchasing an additional 7,095 shares during the period. Harvest Fund Management Co. Ltd's holdings in Cal-Maine Foods were worth $1,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Cal-Maine Foods by 88.6% in the third quarter. JPMorgan Chase & Co. now owns 340,155 shares of the basic materials company's stock worth $25,457,000 after purchasing an additional 159,787 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Cal-Maine Foods by 652.6% in the 3rd 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 during the period. Bank of New York Mellon Corp grew its position in shares of Cal-Maine Foods by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 517,609 shares of the basic materials company's stock worth $53,272,000 after buying an additional 76,387 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Cal-Maine Foods by 130.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 132,460 shares of the basic materials company's stock valued at $9,913,000 after buying an additional 75,090 shares during the period. Finally, Intech Investment Management LLC lifted its stake in Cal-Maine Foods by 131.5% in the fourth quarter. Intech Investment Management LLC now owns 129,561 shares of the basic materials company's stock worth $13,334,000 after acquiring an additional 73,596 shares during the period. 84.67% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages have issued reports on CALM. StockNews.com raised shares of Cal-Maine Foods from a "hold" rating to a "buy" rating in a research report on Wednesday, January 15th. Stephens reiterated 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.

Insider Activity

In related news, Director Letitia Callender Hughes sold 809 shares of the company's 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 transaction, the director now owns 42,761 shares in the company, valued at $4,702,427.17. The trade was a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 13.45% of the company's stock.

Cal-Maine Foods Price Performance

CALM stock traded up $4.00 during midday trading on Monday, hitting $93.20. The stock had a trading volume of 766,515 shares, compared to its average volume of 654,174. The business has a 50-day moving average of $98.98 and a two-hundred day moving average of $93.77. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 7.25 and a beta of -0.12. Cal-Maine Foods, Inc. has a 52-week low of $55.00 and a 52-week high of $116.41.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, topping analysts' consensus estimates of $4.05 by $0.42. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The firm had revenue of $954.70 million for the quarter, compared to the consensus estimate of $751.50 million. During the same period in the prior year, the firm earned $0.35 EPS. The company's revenue was up 82.5% compared to the same quarter last year. Research analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods 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.