Rhumbline Advisers Has $10.86 Million Stock Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Rhumbline Advisers reduced its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,481 shares of the basic materials company’s stock after selling 4,044 shares during the quarter. Rhumbline Advisers owned about 0.24% of Cal-Maine Foods worth $10,861,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in Cal-Maine Foods by 339.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 797 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Cal-Maine Foods during the 4th quarter worth $134,000. Mascagni Wealth Management Inc. bought a new position in shares of Cal-Maine Foods in the fourth quarter worth $144,000. Colonial River Investments LLC bought a new position in shares of Cal-Maine Foods in the fourth quarter worth $203,000. Finally, Axxcess Wealth Management LLC acquired a new position in Cal-Maine Foods in the fourth quarter valued at about $203,000. Institutional investors own 84.67% of the company’s stock.

Insider Activity

In related news, insider Adolphus B. Baker sold 140,266 shares of Cal-Maine Foods stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $90.60, for a total value of $12,708,099.60. Following the completion of the sale, the insider now owns 1,319,034 shares of the company’s stock, valued at approximately $119,504,480.40. This trade represents a 9.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 13.45% of the company’s stock.

Cal-Maine Foods Trading Down 0.6%

Shares of CALM stock opened at $97.55 on Tuesday. Cal-Maine Foods, Inc. has a 1-year low of $57.43 and a 1-year high of $116.41. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 7.59 and a beta of 0.17. The stock has a 50-day moving average of $94.49 and a 200-day moving average of $97.86.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.79 by $4.59. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $953.76 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm’s revenue was up 101.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.00 EPS. Sell-side analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Analyst Ratings Changes

CALM has been the subject of several recent analyst reports. Stephens restated an “equal weight” rating and set a $97.00 target price on shares of Cal-Maine Foods in a research note on Wednesday, April 23rd. Wall Street Zen cut Cal-Maine Foods from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 1st. Finally, BMO Capital Markets upgraded Cal-Maine Foods to a “hold” rating in a research report on Tuesday, May 6th.

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.