Tectonic Advisors LLC Boosts Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Tectonic Advisors LLC raised its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,101 shares of the basic materials company’s stock after purchasing an additional 469 shares during the period. Tectonic Advisors LLC’s holdings in Cal-Maine Foods were worth $1,355,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Axiom Advisory LLC increased its position in shares of Cal-Maine Foods by 3.3% during the third quarter. Axiom Advisory LLC now owns 4,061 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 128 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Cal-Maine Foods by 57.0% during 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 in the last quarter. Garner Asset Management Corp boosted its position in shares of Cal-Maine Foods by 0.9% during the 2nd quarter. Garner Asset Management Corp now owns 20,252 shares of the basic materials company’s stock worth $1,238,000 after purchasing an additional 183 shares in the last quarter. Regal Investment Advisors LLC boosted its position in shares of Cal-Maine Foods by 3.9% in the 2nd quarter. Regal Investment Advisors LLC now owns 5,404 shares of the basic materials company’s stock worth $330,000 after buying an additional 203 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Cal-Maine Foods by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 11,765 shares of the basic materials company’s stock worth $719,000 after buying an additional 230 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Up 1.9 %

Shares of NASDAQ CALM opened at $90.17 on Friday. Cal-Maine Foods, Inc. has a fifty-two week low of $44.78 and a fifty-two week high of $95.06. The firm’s 50-day simple moving average is $77.44 and its 200 day simple moving average is $67.34. The stock has a market cap of $4.42 billion, a P/E ratio of 15.99 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.30). The business 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 earnings per share.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the company a “sell” rating in a research note on Wednesday, July 17th. StockNews.com downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Stephens assumed coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective for the company.

Insider Buying and Selling at Cal-Maine Foods

In related news, VP Robert L. Holladay, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the sale, the vice president now owns 16,754 shares of the company’s stock, valued at approximately $1,188,361.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Michael Todd Walters sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the transaction, the chief operating officer now directly owns 5,310 shares in the company, valued at $372,762. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert L. Holladay, Jr. sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the transaction, the vice president now owns 16,754 shares of the company’s stock, valued at $1,188,361.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 13.51% of the company’s stock.

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.