Freedom Investment Management Inc. Takes $305,000 Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Freedom Investment Management Inc. bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,965 shares of the basic materials company’s stock, valued at approximately $305,000.

Several other large investors have also recently bought and sold shares of the business. Savant Capital LLC boosted its position in shares of Cal-Maine Foods by 2.5% during the 4th quarter. Savant Capital LLC now owns 3,798 shares of the basic materials company’s stock worth $391,000 after acquiring an additional 92 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in Cal-Maine Foods by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 5,755 shares of the basic materials company’s stock valued at $592,000 after purchasing an additional 97 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in Cal-Maine Foods by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,290 shares of the basic materials company’s stock valued at $442,000 after purchasing an additional 136 shares during the last quarter. US Bancorp DE raised its holdings in Cal-Maine Foods by 2.4% during the fourth quarter. US Bancorp DE now owns 6,710 shares of the basic materials company’s stock worth $691,000 after purchasing an additional 156 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Cal-Maine Foods by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 15,049 shares of the basic materials company’s stock worth $1,126,000 after buying an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Insider Activity

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 140,266 shares of the business’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $90.60, for a total value of $12,708,099.60. Following the transaction, the insider now directly owns 1,319,034 shares of the company’s stock, valued at approximately $119,504,480.40. The trade was a 9.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.45% of the company’s stock.

Cal-Maine Foods Price Performance

CALM stock opened at $90.17 on Tuesday. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 7.02 and a beta of 0.11. The company has a fifty day moving average price of $91.01 and a 200 day moving average price of $96.83. Cal-Maine Foods, Inc. has a 12 month low of $55.15 and a 12 month high of $116.41.

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

Wall Street Analyst Weigh In

CALM has been the topic of several research analyst reports. Stephens reiterated an “equal weight” rating and set a $97.00 price target on shares of Cal-Maine Foods in a research note on Thursday, March 6th. StockNews.com cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Thursday, April 10th.

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.