Cal-Maine Foods, Inc. (NASDAQ:CALM) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC reduced its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 43.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,707 shares of the basic materials company’s stock after selling 5,242 shares during the quarter. Legato Capital Management LLC’s holdings in Cal-Maine Foods were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CALM. JPMorgan Chase & Co. grew its position in Cal-Maine Foods by 88.6% during the third quarter. JPMorgan Chase & Co. now owns 340,155 shares of the basic materials company’s stock worth $25,457,000 after buying an additional 159,787 shares during the period. Two Sigma Advisers LP grew its position in Cal-Maine Foods by 652.6% during the third quarter. Two Sigma Advisers LP now owns 160,300 shares of the basic materials company’s stock worth $11,997,000 after buying an additional 139,000 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Cal-Maine Foods in the third quarter valued at approximately $58,810,000. Hotchkis & Wiley Capital Management LLC grew its position in shares of Cal-Maine Foods by 130.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 132,460 shares of the basic materials company’s stock valued at $9,913,000 after purchasing an additional 75,090 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Cal-Maine Foods by 4.3% in the third quarter. Pacer Advisors Inc. now owns 1,561,672 shares of the basic materials company’s stock valued at $116,876,000 after purchasing an additional 64,489 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Letitia Callender Hughes sold 809 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total transaction of $88,965.73. Following the sale, the director now owns 42,761 shares in the company, valued at approximately $4,702,427.17. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.45% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th.

Cal-Maine Foods Price Performance

CALM stock opened at $108.60 on Friday. Cal-Maine Foods, Inc. has a 12 month low of $54.88 and a 12 month high of $116.41. The company’s 50 day simple moving average is $107.00 and its 200-day simple moving average is $90.25. The firm has a market capitalization of $5.32 billion, a PE ratio of 8.45 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.42. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. The firm had revenue of $954.70 million for the quarter, compared to analyst estimates of $751.50 million. During the same quarter last year, the business earned $0.35 earnings per share. Cal-Maine Foods’s revenue was up 82.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current 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.