State of Alaska Department of Revenue Has $2.05 Million Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

State of Alaska Department of Revenue decreased its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 2.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 22,550 shares of the basic materials company’s stock after selling 643 shares during the period. State of Alaska Department of Revenue’s holdings in Cal-Maine Foods were worth $2,049,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CALM. Financial Management Professionals Inc. acquired a new position in Cal-Maine Foods in the 1st quarter worth approximately $30,000. Future Financial Wealth Managment LLC acquired a new position in Cal-Maine Foods in the 1st quarter worth approximately $77,000. Harbor Capital Advisors Inc. boosted its stake in shares of Cal-Maine Foods by 126.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company’s stock valued at $84,000 after buying an additional 513 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of 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 valued at $105,000 after buying an additional 797 shares during the period. Finally, NBC Securities Inc. boosted its stake in shares of Cal-Maine Foods by 139,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,400 shares of the basic materials company’s stock valued at $127,000 after buying an additional 1,399 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Cal-Maine Foods from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 1st. Stephens reissued 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. Finally, BMO Capital Markets raised shares of Cal-Maine Foods to a “hold” rating in a research note on Tuesday, May 6th.

Cal-Maine Foods Trading Down 0.5%

Cal-Maine Foods stock opened at $101.55 on Tuesday. The company has a market capitalization of $4.98 billion, a P/E ratio of 5.02 and a beta of 0.17. The firm’s fifty day simple moving average is $95.56 and its 200-day simple moving average is $97.96. Cal-Maine Foods, Inc. has a 1-year low of $58.59 and a 1-year high of $116.41.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share for the quarter, beating analysts’ consensus estimates of $5.79 by $4.59. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $953.76 million. Cal-Maine Foods had a net margin of 26.08% and a return on equity of 48.72%. Cal-Maine Foods’s revenue for the quarter was up 101.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.00 EPS. On average, equities research analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Insider Activity

In other news, insider Adolphus B. Baker sold 140,266 shares of the firm’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $90.60, for a total transaction of $12,708,099.60. Following the transaction, the insider now owns 1,319,034 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. 13.45% of the stock is owned by insiders.

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.