Krane Funds Advisors LLC Makes New $438,000 Investment in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Krane Funds Advisors LLC acquired a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 5,855 shares of the basic materials company's stock, valued at approximately $438,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new position in shares of Cal-Maine Foods in the 2nd quarter valued at about $25,000. Hexagon Capital Partners LLC boosted its holdings in shares of Cal-Maine Foods by 57.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company's stock worth $32,000 after buying an additional 155 shares during the period. Quarry LP boosted its holdings in shares of Cal-Maine Foods by 1,975.0% during the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company's stock worth $36,000 after buying an additional 553 shares during the period. CWM LLC boosted its holdings in shares of Cal-Maine Foods by 120.1% during the 2nd quarter. CWM LLC now owns 625 shares of the basic materials company's stock worth $38,000 after buying an additional 341 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Cal-Maine Foods by 73.8% during the 2nd quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company's stock worth $41,000 after buying an additional 287 shares during the period. Institutional investors own 84.67% of the company's stock.

Wall Street Analysts Forecast Growth

CALM has been the subject of several research analyst reports. StockNews.com raised shares of Cal-Maine Foods from a "hold" rating to a "buy" rating in a report on Thursday, October 3rd. The Goldman Sachs Group lifted their target price on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a "sell" rating in a report on Wednesday, July 17th. Finally, Stephens started coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They set an "equal weight" rating and a $82.00 target price for the company.

Insider Activity

In other news, COO Michael Todd Walters sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the transaction, the chief operating officer now directly owns 5,310 shares in the company, valued at approximately $372,762. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Michael Todd Walters sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the transaction, the chief operating officer now directly owns 5,310 shares in the company, valued at $372,762. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James E. Poole sold 1,500 shares of the company's stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $70.65, for a total transaction of $105,975.00. Following the transaction, the director now owns 10,170 shares of the company's stock, valued at approximately $718,510.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,000 shares of company stock worth $422,970. 13.51% of the stock is currently owned by corporate insiders.

Cal-Maine Foods Price Performance

Cal-Maine Foods stock traded down $2.60 during midday trading on Tuesday, hitting $88.56. The company's stock had a trading volume of 776,521 shares, compared to its average volume of 615,514. Cal-Maine Foods, Inc. has a 1-year low of $44.30 and a 1-year high of $95.06. The company has a 50-day moving average price of $76.31 and a two-hundred day moving average price of $66.85. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 15.93 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.30). The business had revenue of $785.87 million during the quarter, compared to analyst estimates of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. Cal-Maine Foods's revenue for the quarter was up 71.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 EPS.

About Cal-Maine Foods

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.