Shariaportfolio Inc. Sells 4,453 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Shariaportfolio Inc. reduced its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,351 shares of the basic materials company’s stock after selling 4,453 shares during the quarter. Cal-Maine Foods makes up approximately 1.8% of Shariaportfolio Inc.’s holdings, making the stock its 12th largest holding. Shariaportfolio Inc. owned about 0.09% of Cal-Maine Foods worth $3,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CALM. Hantz Financial Services Inc. acquired a new position in shares of Cal-Maine Foods in the 2nd quarter worth approximately $25,000. Hexagon Capital Partners LLC boosted its holdings in shares of Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Cal-Maine Foods in the 3rd quarter worth approximately $33,000. Quarry LP boosted its holdings in shares of Cal-Maine Foods by 1,975.0% in the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 553 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Cal-Maine Foods by 120.1% in the 2nd quarter. CWM LLC now owns 625 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 341 shares in the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stephens assumed coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective on the stock. The Goldman Sachs Group upped their price objective on Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a report on Wednesday, July 17th. Finally, StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd.

Cal-Maine Foods Stock Performance

Shares of Cal-Maine Foods stock opened at $91.16 on Tuesday. The firm has a fifty day moving average of $75.88 and a two-hundred day moving average of $66.65. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 16.16 and a beta of -0.10. Cal-Maine Foods, Inc. has a 52 week low of $44.30 and a 52 week high of $95.06.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.30). The business had revenue of $785.87 million for the quarter, compared to the consensus estimate of $704.65 million. Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The business’s revenue was up 71.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS.

Insider Activity at Cal-Maine Foods

In related news, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total value of $210,600.00. Following the completion of the sale, the chief operating officer now owns 5,310 shares in the company, valued at $372,762. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the sale, the vice president now owns 16,754 shares in the company, valued at $1,188,361.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the sale, the chief operating officer now owns 5,310 shares of the company’s stock, valued at approximately $372,762. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,000 shares of company stock worth $422,970 in the last quarter. Corporate insiders own 13.51% of the company’s stock.

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.