Chesapeake Capital Corp IL Increases Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Chesapeake Capital Corp IL grew its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 27.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,733 shares of the basic materials company’s stock after buying an additional 1,687 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Cal-Maine Foods were worth $577,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CALM. Hantz Financial Services Inc. purchased a new stake in shares of Cal-Maine Foods during the 2nd quarter valued at about $25,000. Harbor Capital Advisors Inc. purchased a new stake in Cal-Maine Foods in the 3rd quarter worth about $29,000. Hexagon Capital Partners LLC raised its position in 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 purchasing an additional 155 shares during the period. Krane Funds Advisors LLC purchased a new stake in Cal-Maine Foods in the 3rd quarter worth about $33,000. Finally, Quarry LP raised its position in 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 purchasing an additional 553 shares during the period. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Price Performance

Shares of CALM stock opened at $90.43 on Friday. The company has a market capitalization of $4.43 billion, a P/E ratio of 10.36 and a beta of -0.12. The company’s 50-day simple moving average is $83.42 and its two-hundred day simple moving average is $70.75. Cal-Maine Foods, Inc. has a one year low of $45.07 and a one year 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 analysts’ consensus estimates of $3.36 by ($0.30). The company had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. Cal-Maine Foods’s revenue was up 71.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. On average, research analysts expect that Cal-Maine Foods, Inc. will post 8.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the 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 transaction, the vice president now directly owns 16,754 shares in the company, valued at approximately $1,188,361.22. This trade represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Stephens assumed coverage on shares of Cal-Maine Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective on the stock. StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Friday.

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.