Independent Advisor Alliance Takes $1.17 Million Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Independent Advisor Alliance bought a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the 4th quarter, HoldingsChannel.com reports. The firm bought 11,330 shares of the basic materials company’s stock, valued at approximately $1,166,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its holdings in Cal-Maine Foods by 350.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 1,118 shares in the last quarter. Vest Financial LLC lifted its position in shares of Cal-Maine Foods by 17.2% during the 4th quarter. Vest Financial LLC now owns 23,553 shares of the basic materials company’s stock worth $2,424,000 after buying an additional 3,449 shares during the period. Neo Ivy Capital Management acquired a new stake in Cal-Maine Foods in the 3rd quarter valued at $788,000. Asset Management One Co. Ltd. grew its position in Cal-Maine Foods by 1,061.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 32,924 shares of the basic materials company’s stock valued at $3,330,000 after acquiring an additional 30,089 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Cal-Maine Foods by 339.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 797 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.

Wall Street Analysts Forecast Growth

CALM has been the topic of several recent analyst reports. Stephens restated an “equal weight” rating and issued a $97.00 target price on shares of Cal-Maine Foods in a research note on Thursday, March 6th. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th.

Insiders Place Their Bets

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total value of $88,965.73. Following the transaction, the director now directly owns 42,761 shares in the company, valued at approximately $4,702,427.17. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.45% of the company’s stock.

Cal-Maine Foods Price Performance

CALM stock opened at $83.03 on Friday. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 6.46 and a beta of -0.12. The business has a fifty day moving average price of $100.44 and a 200 day moving average price of $92.82. Cal-Maine Foods, Inc. has a fifty-two week low of $55.00 and a fifty-two week high of $116.41.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.42. The business had revenue of $954.70 million during the quarter, compared to analysts’ expectations of $751.50 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. On average, equities analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

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.