Sierra Summit Advisors LLC Buys Shares of 5,646 Cal-Maine Foods, Inc. (NASDAQ:CALM)

Sierra Summit Advisors LLC purchased a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,646 shares of the basic materials company's stock, valued at approximately $581,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Cal-Maine Foods by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 4,905,606 shares of the basic materials company's stock worth $504,885,000 after purchasing an additional 118,162 shares in the last quarter. State Street Corp increased its position in shares of Cal-Maine Foods by 3.0% in the third quarter. State Street Corp now owns 1,609,388 shares of the basic materials company's stock worth $120,447,000 after acquiring an additional 46,187 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Cal-Maine Foods by 12.7% in the 4th quarter. American Century Companies Inc. now owns 1,266,621 shares of the basic materials company's stock valued at $130,361,000 after acquiring an additional 143,189 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Cal-Maine Foods by 11.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 998,844 shares of the basic materials company's stock valued at $102,801,000 after acquiring an additional 104,512 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Cal-Maine Foods by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 988,599 shares of the basic materials company's stock worth $74,000,000 after purchasing an additional 10,984 shares during the period. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have commented on CALM. Stephens restated an "equal weight" rating and set a $97.00 price objective on shares of Cal-Maine Foods in a research note on Thursday, March 6th. StockNews.com cut Cal-Maine Foods from a "buy" rating to a "hold" rating in a report on Thursday.

Cal-Maine Foods Stock Up 4.6 %

Shares of Cal-Maine Foods stock traded up $4.31 during trading hours on Friday, hitting $98.99. 1,275,132 shares of the company's stock traded hands, compared to its average volume of 698,788. Cal-Maine Foods, Inc. has a twelve month low of $55.15 and a twelve month high of $116.41. The stock has a 50 day simple moving average of $92.86 and a 200-day simple moving average of $96.01. The company has a market cap of $4.85 billion, a PE ratio of 7.70 and a beta of 0.11.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.79 by $4.59. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $953.76 million. During the same period in the previous year, the business earned $3.00 EPS. Cal-Maine Foods's revenue for the quarter was up 101.6% compared to the same quarter last year. As a group, equities research analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Insiders Place Their Bets

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the firm'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 of the company's stock, valued at $4,702,427.17. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 13.45% of the stock is currently owned by company 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.