Legato Capital Management LLC Sells 5,242 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Legato Capital Management LLC reduced its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 43.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,707 shares of the basic materials company's stock after selling 5,242 shares during the period. Legato Capital Management LLC's holdings in Cal-Maine Foods were worth $690,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CALM. JPMorgan Chase & Co. boosted 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 buying an additional 159,787 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Cal-Maine Foods by 652.6% during the 3rd quarter. Two Sigma Advisers LP now owns 160,300 shares of the basic materials company's stock valued at $11,997,000 after buying an additional 139,000 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Cal-Maine Foods during the third quarter valued at approximately $58,810,000. Hotchkis & Wiley Capital Management LLC increased its position in Cal-Maine Foods by 130.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 132,460 shares of the basic materials company's stock worth $9,913,000 after buying an additional 75,090 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Cal-Maine Foods by 4.3% in the 3rd quarter. Pacer Advisors Inc. now owns 1,561,672 shares of the basic materials company's stock valued at $116,876,000 after purchasing an additional 64,489 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Cal-Maine Foods from a "hold" rating to a "buy" rating in a research report on Wednesday, January 15th.

Cal-Maine Foods Trading Down 12.4 %

NASDAQ CALM traded down $13.50 on Monday, reaching $95.10. The stock had a trading volume of 2,079,912 shares, compared to its average volume of 792,419. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 7.40 and a beta of -0.12. The business has a 50 day moving average price of $106.78 and a 200 day moving average price of $90.85. Cal-Maine Foods, Inc. has a 1 year low of $54.88 and a 1 year high of $116.41.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.42. The business had revenue of $954.70 million during the quarter, compared to analysts' expectations of $751.50 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm's 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 EPS. On average, analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Letitia Callender Hughes sold 809 shares of the company's stock in a transaction dated Tuesday, January 14th. The stock was 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 directly owns 42,761 shares of the company's stock, valued at $4,702,427.17. This represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.45% of the stock is owned by corporate insiders.

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.