Bank of New York Mellon Corp Increases Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Bank of New York Mellon Corp boosted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 17.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 517,609 shares of the basic materials company’s stock after purchasing an additional 76,387 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.06% of Cal-Maine Foods worth $53,272,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CALM. Savant Capital LLC raised its stake in shares of Cal-Maine Foods by 2.5% during the 4th quarter. Savant Capital LLC now owns 3,798 shares of the basic materials company’s stock worth $391,000 after buying an additional 92 shares during the period. Martingale Asset Management L P raised its position in Cal-Maine Foods by 0.4% during the third quarter. Martingale Asset Management L P now owns 39,321 shares of the basic materials company’s stock worth $2,943,000 after acquiring an additional 145 shares during the period. Stifel Financial Corp lifted its holdings in Cal-Maine Foods by 1.3% during the third quarter. Stifel Financial Corp now owns 15,049 shares of the basic materials company’s stock valued at $1,126,000 after purchasing an additional 188 shares in the last quarter. Quarry LP lifted its holdings in Cal-Maine Foods by 32.5% during the third quarter. Quarry LP now owns 770 shares of the basic materials company’s stock valued at $58,000 after purchasing an additional 189 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Cal-Maine Foods by 24.3% in the fourth quarter. GAMMA Investing LLC now owns 1,368 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 267 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analyst Ratings Changes

CALM has been the subject of several research analyst reports. Stephens restated an “equal weight” rating and set a $97.00 price target on shares of Cal-Maine Foods in a research report on Thursday, February 27th. StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th.

Insiders Place Their Bets

In other news, Director Letitia Callender Hughes sold 809 shares of the company’s 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 owns 42,761 shares of the company’s stock, valued at $4,702,427.17. This represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 13.45% of the company’s stock.

Cal-Maine Foods Stock Down 4.9 %

Cal-Maine Foods stock opened at $84.19 on Thursday. The company has a fifty day simple moving average of $103.39 and a 200-day simple moving average of $92.38. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 6.55 and a beta of -0.12. Cal-Maine Foods, Inc. has a 52-week low of $55.00 and a 52-week high of $116.41.

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

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.