Wedge Capital Management L L P NC Reduces Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Wedge Capital Management L L P NC trimmed its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 13.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,244 shares of the basic materials company’s stock after selling 14,074 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.19% of Cal-Maine Foods worth $5,236,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CALM. Signaturefd LLC lifted its position in Cal-Maine Foods by 44.2% during the third quarter. Signaturefd LLC now owns 760 shares of the basic materials company’s stock worth $37,000 after buying an additional 233 shares during the period. State of Alaska Department of Revenue boosted its holdings in Cal-Maine Foods by 1.4% in the third quarter. State of Alaska Department of Revenue now owns 25,347 shares of the basic materials company’s stock valued at $1,227,000 after acquiring an additional 344 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Cal-Maine Foods by 2.6% in the 3rd quarter. Amalgamated Bank now owns 17,667 shares of the basic materials company’s stock worth $855,000 after purchasing an additional 448 shares during the period. Park Place Capital Corp acquired a new position in shares of Cal-Maine Foods in the 4th quarter valued at about $26,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Cal-Maine Foods by 6.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,038 shares of the basic materials company’s stock worth $389,000 after purchasing an additional 504 shares during the period. 84.67% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Stock Down 0.0 %

Shares of NASDAQ CALM opened at $59.68 on Wednesday. The stock’s 50 day moving average price is $59.24 and its two-hundred day moving average price is $54.38. Cal-Maine Foods, Inc. has a 52-week low of $42.25 and a 52-week high of $64.76. The stock has a market capitalization of $2.93 billion, a P/E ratio of 10.58 and a beta of -0.06.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, April 2nd. The basic materials company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.55. Cal-Maine Foods had a net margin of 11.61% and a return on equity of 16.79%. The firm had revenue of $703.08 million during the quarter, compared to analyst estimates of $692.35 million. During the same quarter in the previous year, the firm earned $6.62 earnings per share. The firm’s revenue for the quarter was down 29.5% compared to the same quarter last year. On average, analysts anticipate that Cal-Maine Foods, Inc. will post 4.63 EPS for the current year.

Analysts Set New Price Targets

Separately, Stephens restated an “equal weight” rating and set a $65.00 price objective on shares of Cal-Maine Foods in a research note on Wednesday, April 3rd.

Insiders Place Their Bets

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 1,020 shares of Cal-Maine Foods stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $56.73, for a total value of $57,864.60. Following the transaction, the director now owns 43,570 shares in the company, valued at $2,471,726.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Cal-Maine Foods news, Director James E. Poole sold 3,000 shares of Cal-Maine Foods stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $55.91, for a total value of $167,730.00. Following the transaction, the director now directly owns 11,670 shares of the company’s stock, valued at approximately $652,469.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Letitia Callender Hughes sold 1,020 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $56.73, for a total transaction of $57,864.60. Following the transaction, the director now directly owns 43,570 shares of the company’s stock, valued at approximately $2,471,726.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,228 shares of company stock worth $520,122. Insiders own 13.51% of the company’s stock.

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.