Envestnet Portfolio Solutions Inc. Makes New Investment in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Envestnet Portfolio Solutions Inc. acquired a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,248 shares of the basic materials company’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Quarry LP grew its holdings in Cal-Maine Foods by 32.5% in the third quarter. Quarry LP now owns 770 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 189 shares during the period. Smartleaf Asset Management LLC increased its stake in Cal-Maine Foods by 339.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock valued at $105,000 after buying an additional 797 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Cal-Maine Foods during the fourth quarter worth $134,000. GAMMA Investing LLC grew its position in Cal-Maine Foods by 24.3% during the fourth quarter. GAMMA Investing LLC now owns 1,368 shares of the basic materials company’s stock valued at $141,000 after buying an additional 267 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Cal-Maine Foods by 350.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company’s stock worth $148,000 after purchasing an additional 1,118 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stephens reaffirmed an “equal weight” rating and set a $97.00 price objective on shares of Cal-Maine Foods in a report on Thursday, March 6th. StockNews.com downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Tuesday.

Cal-Maine Foods Stock Down 1.3 %

Shares of NASDAQ:CALM opened at $91.01 on Friday. Cal-Maine Foods, Inc. has a 52 week low of $55.00 and a 52 week high of $116.41. The company’s fifty day moving average is $97.15 and its 200 day moving average is $94.25. The stock has a market cap of $4.46 billion, a PE ratio of 7.08 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data 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. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The firm had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $751.50 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was up 82.5% compared to the same quarter last year. Sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Insider Buying and Selling at Cal-Maine Foods

In related 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 sale, the director now directly owns 42,761 shares of the company’s stock, valued at $4,702,427.17. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 13.45% of the company’s stock.

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.