Wedge Capital Management L L P NC Has $4.97 Million Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Wedge Capital Management L L P NC reduced its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,261 shares of the basic materials company’s stock after selling 746 shares during the quarter. Wedge Capital Management L L P NC owned 0.10% of Cal-Maine Foods worth $4,967,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Cal-Maine Foods during the third quarter valued at $29,000. Hexagon Capital Partners LLC grew its stake in 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 valued at $32,000 after acquiring an additional 155 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Cal-Maine Foods in the 3rd quarter valued at about $33,000. Quarry LP lifted its position in shares of Cal-Maine Foods by 1,975.0% in the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 553 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Cal-Maine Foods by 62.9% during the third quarter. GAMMA Investing LLC now owns 1,101 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 425 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Insider Activity

In related news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total value of $88,965.73. Following the completion of the sale, the director now owns 42,761 shares in the company, valued at $4,702,427.17. This represents a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.45% of the stock is currently owned by company insiders.

Cal-Maine Foods Stock Performance

NASDAQ:CALM opened at $113.63 on Friday. The company has a market capitalization of $5.57 billion, a P/E ratio of 8.84 and a beta of -0.11. The stock’s 50 day moving average price is $101.36 and its 200 day moving average price is $84.40. Cal-Maine Foods, Inc. has a 52 week low of $53.38 and a 52 week high of $114.40.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $751.50 million. During the same period in the previous year, the firm earned $0.35 earnings per share. The firm’s quarterly revenue was up 82.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CALM. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday. Stephens began coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective for the company.

Cal-Maine Foods 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.