Wedge Capital Management L L P NC Sells 22,920 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Wedge Capital Management L L P NC lowered its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 47.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,341 shares of the basic materials company’s stock after selling 22,920 shares during the quarter. Wedge Capital Management L L P NC owned about 0.05% of Cal-Maine Foods worth $2,303,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its position in Cal-Maine Foods by 1,061.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 32,924 shares of the basic materials company’s stock worth $3,330,000 after purchasing an additional 30,089 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Cal-Maine Foods by 339.1% in the fourth 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 last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Cal-Maine Foods in the fourth quarter worth $239,000. US Bancorp DE grew its stake in shares of Cal-Maine Foods by 2.4% in the fourth quarter. US Bancorp DE now owns 6,710 shares of the basic materials company’s stock worth $691,000 after acquiring an additional 156 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Cal-Maine Foods by 52.5% in the fourth quarter. Victory Capital Management Inc. now owns 196,874 shares of the basic materials company’s stock worth $20,262,000 after acquiring an additional 67,807 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 140,266 shares of Cal-Maine Foods stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $90.60, for a total transaction of $12,708,099.60. Following the completion of the transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.45% of the stock is owned by company insiders.

Cal-Maine Foods Price Performance

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

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

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.