KLP Kapitalforvaltning AS Takes Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

KLP Kapitalforvaltning AS bought a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,700 shares of the basic materials company's stock, valued at approximately $2,542,000. KLP Kapitalforvaltning AS owned about 0.05% of Cal-Maine Foods at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC acquired a new position in Cal-Maine Foods in the 3rd quarter valued at $766,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Cal-Maine Foods by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 621,191 shares of the basic materials company's stock worth $46,490,000 after buying an additional 20,528 shares in the last quarter. Citigroup Inc. raised its position in shares of Cal-Maine Foods by 40.3% in the third quarter. Citigroup Inc. now owns 72,911 shares of the basic materials company's stock valued at $5,457,000 after buying an additional 20,935 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Cal-Maine Foods by 1.1% in the third quarter. Cerity Partners LLC now owns 28,754 shares of the basic materials company's stock worth $2,152,000 after buying an additional 313 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in Cal-Maine Foods during the third quarter worth about $563,000. Hedge funds and other institutional investors own 84.67% of the company's stock.

Remove Ads

Cal-Maine Foods Stock Performance

Shares of CALM stock traded down $1.20 on Friday, hitting $91.01. 544,190 shares of the stock traded hands, compared to its average volume of 685,029. Cal-Maine Foods, Inc. has a twelve month low of $55.00 and a twelve month high of $116.41. The firm's 50-day moving average price is $97.15 and its two-hundred day moving average price is $94.60. The stock has a market capitalization of $4.46 billion, a PE ratio of 7.08 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.42. The company had revenue of $954.70 million for 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%. Cal-Maine Foods's revenue was up 82.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 EPS. On average, equities research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com downgraded shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. Stephens reaffirmed an "equal weight" rating and issued a $97.00 price target on shares of Cal-Maine Foods in a report on Thursday, March 6th.

Insider Activity at Cal-Maine Foods

In related news, Director Letitia Callender Hughes sold 809 shares of the firm's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total transaction 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 approximately $4,702,427.17. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.45% of the stock is currently owned by insiders.

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.