Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 39,605 shares of the basic materials company's stock, valued at approximately $4,076,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Cal-Maine Foods as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. acquired a new stake in Cal-Maine Foods in the third quarter valued at $231,000. Victory Capital Management Inc. increased its stake in Cal-Maine Foods by 29.5% in the third quarter. Victory Capital Management Inc. now owns 129,067 shares of the basic materials company's stock valued at $9,659,000 after purchasing an additional 29,435 shares during the last quarter. Empowered Funds LLC raised its holdings in Cal-Maine Foods by 0.9% during the third quarter. Empowered Funds LLC now owns 76,232 shares of the basic materials company's stock worth $5,705,000 after purchasing an additional 654 shares in the last quarter. Natixis Advisors LLC purchased a new position in shares of Cal-Maine Foods in the 3rd quarter valued at $766,000. Finally, Chesapeake Capital Corp IL lifted its position in Cal-Maine Foods by 27.9% in the third quarter. Chesapeake Capital Corp IL now owns 7,733 shares of the basic materials company's stock valued at $577,000 after acquiring an additional 1,687 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company's stock.
Insiders Place Their Bets
In other news, Director Letitia Callender Hughes sold 809 shares of the business's stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total transaction of $88,965.73. Following the transaction, the director now directly owns 42,761 shares in the company, valued at $4,702,427.17. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 13.45% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on CALM shares. Stephens reiterated 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. StockNews.com upgraded Cal-Maine Foods from a "hold" rating to a "buy" rating in a research note on Wednesday, January 15th.
Get Our Latest Stock Report on Cal-Maine Foods
Cal-Maine Foods Price Performance
Shares of NASDAQ:CALM traded down $0.67 on Thursday, reaching $88.72. The company's stock had a trading volume of 866,538 shares, compared to its average volume of 649,444. Cal-Maine Foods, Inc. has a 52-week low of $55.00 and a 52-week high of $116.41. The stock's 50-day moving average is $99.56 and its two-hundred day moving average is $93.35. The stock has a market capitalization of $4.35 billion, a P/E ratio of 6.90 and a beta of -0.12.
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 (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $954.70 million for the quarter, compared to analyst estimates of $751.50 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company's revenue for the quarter was up 82.5% compared to the same quarter last year. Equities analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.
Cal-Maine Foods Profile
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Free Report)
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.
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