Diamond Hill Capital Management Inc. Lowers Stock Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Diamond Hill Capital Management Inc. lowered its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 52.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,395 shares of the basic materials company’s stock after selling 35,608 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.07% of Cal-Maine Foods worth $3,334,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CALM. Crossmark Global Holdings Inc. purchased a new stake in Cal-Maine Foods in the 3rd quarter worth $231,000. Aigen Investment Management LP purchased a new stake in Cal-Maine Foods in the 3rd quarter worth $321,000. Victory Capital Management Inc. lifted its stake in Cal-Maine Foods by 29.5% in the 3rd quarter. Victory Capital Management Inc. now owns 129,067 shares of the basic materials company’s stock worth $9,659,000 after purchasing an additional 29,435 shares in the last quarter. Empowered Funds LLC lifted its stake in Cal-Maine Foods by 0.9% in the 3rd quarter. Empowered Funds LLC now owns 76,232 shares of the basic materials company’s stock worth $5,705,000 after purchasing an additional 654 shares in the last quarter. Finally, Natixis Advisors LLC purchased a new stake in Cal-Maine Foods in the 3rd quarter worth $766,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Cal-Maine Foods

In related news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction dated 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.45% of the stock is currently owned by insiders.

Cal-Maine Foods Trading Up 2.7 %

Shares of NASDAQ CALM opened at $83.03 on Friday. The firm’s 50-day moving average price is $100.44 and its 200-day moving average price is $92.82. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 6.46 and a beta of -0.12. Cal-Maine Foods, Inc. has a 12-month low of $55.00 and a 12-month high of $116.41.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results 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. The firm 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 business’s revenue was up 82.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. On average, equities analysts predict 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.