Wealthfront Advisers LLC Purchases New Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Wealthfront Advisers LLC bought a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,778 shares of the basic materials company’s stock, valued at approximately $1,212,000.

Other large investors also recently modified their holdings of the company. Quarry LP grew its stake in shares of 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 acquiring an additional 189 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of 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 valued at $105,000 after buying an additional 797 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Cal-Maine Foods during the fourth quarter valued at approximately $134,000. GAMMA Investing LLC increased its stake in shares of 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 acquiring 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 fourth quarter. Nisa Investment Advisors LLC now owns 1,437 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 1,118 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cal-Maine Foods

In other news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total transaction 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 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 accessible through this link. Company insiders own 13.45% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CALM shares. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th. Stephens reissued an “equal weight” rating and set a $97.00 target price on shares of Cal-Maine Foods in a research note on Thursday, March 6th.

Cal-Maine Foods Stock Performance

NASDAQ:CALM opened at $83.03 on Friday. The firm’s 50-day moving average is $100.44 and its 200-day moving average is $92.97. Cal-Maine Foods, Inc. has a 52-week low of $55.00 and a 52-week high of $116.41. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 6.46 and a beta of -0.12.

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