Cadence Wealth Management LLC Acquires 1,202 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Cadence Wealth Management LLC increased its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 19.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,364 shares of the basic materials company’s stock after purchasing an additional 1,202 shares during the quarter. Cal-Maine Foods accounts for about 0.3% of Cadence Wealth Management LLC’s holdings, making the stock its 25th biggest position. Cadence Wealth Management LLC’s holdings in Cal-Maine Foods were worth $423,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Signaturefd LLC increased its position in Cal-Maine Foods by 44.2% during the third quarter. Signaturefd LLC now owns 760 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 233 shares during the period. State of Alaska Department of Revenue grew its stake in Cal-Maine Foods by 1.4% during the third quarter. State of Alaska Department of Revenue now owns 25,347 shares of the basic materials company’s stock worth $1,227,000 after buying an additional 344 shares in the last quarter. Amalgamated Bank grew its stake in Cal-Maine Foods by 2.6% during the third quarter. Amalgamated Bank now owns 17,667 shares of the basic materials company’s stock worth $855,000 after buying an additional 448 shares in the last quarter. Park Place Capital Corp acquired a new stake in Cal-Maine Foods during the fourth quarter worth about $26,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Cal-Maine Foods by 6.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,038 shares of the basic materials company’s stock worth $389,000 after buying an additional 504 shares in the last quarter. 84.67% of the stock is owned by institutional investors.

Cal-Maine Foods Trading Down 2.1 %

Cal-Maine Foods stock traded down $1.24 during trading hours on Friday, reaching $56.87. 652,181 shares of the stock were exchanged, compared to its average volume of 814,002. The company has a market cap of $2.79 billion, a P/E ratio of 10.08 and a beta of -0.06. Cal-Maine Foods, Inc. has a twelve month low of $42.25 and a twelve month high of $64.76. The stock has a 50 day moving average of $59.31 and a two-hundred day moving average of $54.60.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Tuesday, April 2nd. The basic materials company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.55. Cal-Maine Foods had a net margin of 11.61% and a return on equity of 16.79%. The company had revenue of $703.08 million for the quarter, compared to the consensus estimate of $692.35 million. During the same period last year, the company posted $6.62 EPS. The firm’s quarterly revenue was down 29.5% compared to the same quarter last year. On average, analysts expect that Cal-Maine Foods, Inc. will post 4.63 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Letitia Callender Hughes sold 1,020 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $56.73, for a total value of $57,864.60. Following the sale, the director now directly owns 43,570 shares in the company, valued at approximately $2,471,726.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Letitia Callender Hughes sold 1,020 shares of Cal-Maine Foods stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $56.73, for a total transaction of $57,864.60. Following the sale, the director now directly owns 43,570 shares in the company, valued at approximately $2,471,726.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Charles Jeff Hardin sold 4,458 shares of Cal-Maine Foods stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $56.56, for a total transaction of $252,144.48. Following the sale, the executive vice president now owns 17,830 shares in the company, valued at $1,008,464.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,228 shares of company stock worth $520,122. Corporate insiders own 13.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens reiterated an “equal weight” rating and set a $65.00 price objective on shares of Cal-Maine Foods in a research note on Wednesday, April 3rd.

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.