KLP Kapitalforvaltning AS Takes Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

KLP Kapitalforvaltning AS purchased a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 24,700 shares of the basic materials company’s stock, valued at approximately $2,542,000. KLP Kapitalforvaltning AS owned approximately 0.05% of Cal-Maine Foods at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC purchased a new position in shares of Cal-Maine Foods in the 3rd quarter worth approximately $766,000. Charles Schwab Investment Management Inc. lifted its holdings in Cal-Maine Foods by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 621,191 shares of the basic materials company’s stock worth $46,490,000 after acquiring an additional 20,528 shares during the period. Citigroup Inc. boosted its position in Cal-Maine Foods by 40.3% in the third quarter. Citigroup Inc. now owns 72,911 shares of the basic materials company’s stock worth $5,457,000 after purchasing an additional 20,935 shares during the last quarter. Cerity Partners LLC grew its stake in Cal-Maine Foods by 1.1% in the 3rd quarter. Cerity Partners LLC now owns 28,754 shares of the basic materials company’s stock valued at $2,152,000 after purchasing an additional 313 shares during the period. Finally, Kingsview Wealth Management LLC purchased a new stake in shares of Cal-Maine Foods during the 3rd quarter valued at $563,000. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Price Performance

Shares of CALM opened at $92.80 on Thursday. Cal-Maine Foods, Inc. has a 1 year low of $55.00 and a 1 year high of $116.41. The stock’s fifty day moving average price is $98.00 and its two-hundred day moving average price is $94.11. The firm has a market cap of $4.55 billion, a PE ratio of 7.22 and a beta of -0.12.

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 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 return on equity of 33.69% and a net margin of 20.39%. The firm’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. Sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stephens reissued an “equal weight” rating and issued a $97.00 price target on shares of Cal-Maine Foods in a report on Thursday, March 6th. StockNews.com cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Tuesday.

Insider Activity at Cal-Maine Foods

In related news, Director Letitia Callender Hughes sold 809 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total transaction of $88,965.73. Following the sale, the director now directly owns 42,761 shares in the company, valued at approximately $4,702,427.17. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.45% of the stock is currently owned by corporate insiders.

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.