Mirae Asset Global Investments Co. Ltd. Lowers Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Mirae Asset Global Investments Co. Ltd. trimmed its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 34.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,277 shares of the basic materials company’s stock after selling 10,032 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cal-Maine Foods were worth $1,106,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CALM. DekaBank Deutsche Girozentrale grew its position in shares of Cal-Maine Foods by 68.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 21,378 shares of the basic materials company’s stock worth $1,228,000 after buying an additional 8,668 shares during the period. Park Place Capital Corp purchased a new stake in shares of Cal-Maine Foods in the fourth quarter worth $26,000. International Assets Investment Management LLC increased its stake in Cal-Maine Foods by 2,543.8% during the 4th quarter. International Assets Investment Management LLC now owns 117,650 shares of the basic materials company’s stock valued at $67,520,000 after purchasing an additional 113,200 shares in the last quarter. Washington Capital Management Inc. bought a new stake in shares of Cal-Maine Foods during the fourth quarter valued at approximately $218,000. Finally, Blue Trust Inc. increased its holdings in Cal-Maine Foods by 460.3% in the 4th quarter. Blue Trust Inc. now owns 1,087 shares of the basic materials company’s stock worth $62,000 after buying an additional 893 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.

Insider Activity

In related news, 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 in the company, valued at approximately $2,471,726.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Charles Jeff Hardin sold 750 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $56.51, for a total value of $42,382.50. Following the completion of the sale, the executive vice president now owns 3,999 shares in the company, valued at approximately $225,983.49. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Letitia Callender Hughes sold 1,020 shares of the stock in a transaction 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 sale, the director now directly owns 43,570 shares in the company, valued at approximately $2,471,726.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,228 shares of company stock valued at $520,122. 13.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Stephens reissued an “equal weight” rating and issued a $65.00 target price on shares of Cal-Maine Foods in a research report on Wednesday, April 3rd.

Cal-Maine Foods Price Performance

CALM stock opened at $59.70 on Tuesday. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 10.59 and a beta of -0.06. The business has a 50 day simple moving average of $59.15 and a two-hundred day simple moving average of $54.28. Cal-Maine Foods, Inc. has a 1-year low of $42.25 and a 1-year high of $64.76.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Tuesday, April 2nd. The basic materials company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.55. The business had revenue of $703.08 million for the quarter, compared to analysts’ expectations of $692.35 million. Cal-Maine Foods had a return on equity of 16.79% and a net margin of 11.61%. The company’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same period in the prior year, the firm earned $6.62 EPS. Sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 4.63 EPS for the current fiscal year.

Cal-Maine Foods Company 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.