Diversified Investment Strategies LLC Reduces Stock Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Diversified Investment Strategies LLC decreased its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 127,820 shares of the basic materials company’s stock after selling 9,225 shares during the period. Cal-Maine Foods accounts for about 8.5% of Diversified Investment Strategies LLC’s holdings, making the stock its 3rd biggest position. Diversified Investment Strategies LLC owned about 0.26% of Cal-Maine Foods worth $13,155,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Xponance Inc. purchased a new stake in Cal-Maine Foods during the 2nd quarter valued at about $249,000. Marshall Wace LLP increased its holdings in shares of Cal-Maine Foods by 25.1% in the 2nd quarter. Marshall Wace LLP now owns 54,078 shares of the basic materials company’s stock worth $3,305,000 after purchasing an additional 10,838 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Cal-Maine Foods in the 2nd quarter worth $940,000. Algert Global LLC purchased a new position in shares of Cal-Maine Foods in the 2nd quarter worth $2,140,000. Finally, Magnolia Capital Advisors LLC purchased a new position in shares of Cal-Maine Foods in the 2nd quarter worth $638,000. Institutional investors own 84.67% of the company’s stock.

Analyst Ratings Changes

CALM has been the topic of several research reports. 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. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th.

Cal-Maine Foods Price Performance

NASDAQ CALM opened at $110.36 on Wednesday. Cal-Maine Foods, Inc. has a 12 month low of $54.53 and a 12 month high of $116.41. The company’s 50 day simple moving average is $104.01 and its 200 day simple moving average is $86.94. The company has a market capitalization of $5.41 billion, a P/E ratio of 8.58 and a beta of -0.11.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.42. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The company had revenue of $954.70 million during the quarter, compared to analysts’ expectations of $751.50 million. During the same period in the prior year, the business earned $0.35 earnings per share. Cal-Maine Foods’s revenue for the quarter was up 82.5% compared to the same quarter last year. On average, analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Letitia Callender Hughes sold 809 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total transaction of $88,965.73. Following the transaction, the director now directly owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.45% 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.