Cadence Wealth Management LLC Has $432,000 Stock Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Cadence Wealth Management LLC cut its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 27.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,775 shares of the basic materials company’s stock after selling 2,201 shares during the quarter. Cal-Maine Foods accounts for about 0.4% of Cadence Wealth Management LLC’s portfolio, making the stock its 27th largest position. Cadence Wealth Management LLC’s holdings in Cal-Maine Foods were worth $432,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Cal-Maine Foods by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 4,795,570 shares of the basic materials company’s stock valued at $282,219,000 after purchasing an additional 23,915 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cal-Maine Foods by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock worth $159,863,000 after purchasing an additional 114,995 shares in the last quarter. Renaissance Technologies LLC increased its position in Cal-Maine Foods by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock valued at $129,286,000 after buying an additional 110,900 shares in the last quarter. American Century Companies Inc. raised its position in shares of Cal-Maine Foods by 8.9% during the second quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock worth $61,948,000 after purchasing an additional 82,772 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Cal-Maine Foods by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 481,313 shares of the basic materials company’s stock worth $29,413,000 after purchasing an additional 10,287 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM opened at $90.44 on Friday. The company has a market capitalization of $4.44 billion, a PE ratio of 10.36 and a beta of -0.12. Cal-Maine Foods, Inc. has a 1 year low of $45.07 and a 1 year high of $95.06. The business has a fifty day moving average price of $82.99 and a two-hundred day moving average price of $70.42.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The firm had revenue of $785.87 million during the quarter, compared to analysts’ expectations of $704.65 million. During the same period in the prior year, the business earned $0.02 earnings per share. The business’s quarterly revenue was up 71.1% compared to the same quarter last year. Sell-side 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, VP Robert L. Holladay, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total transaction of $106,395.00. Following the sale, the vice president now owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. This represents a 8.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 13.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CALM. Stephens initiated coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price target for the company. StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th.

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.