Cresset Asset Management LLC Cuts Stock Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Cresset Asset Management LLC decreased its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 2.2% in the fourth quarter, HoldingsChannel reports. The fund owned 28,414 shares of the basic materials company’s stock after selling 639 shares during the quarter. Cresset Asset Management LLC’s holdings in Cal-Maine Foods were worth $2,924,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers grew its stake in shares of Cal-Maine Foods by 12.3% during the fourth quarter. Cetera Investment Advisers now owns 16,509 shares of the basic materials company’s stock worth $1,699,000 after acquiring an additional 1,813 shares during the last quarter. Brevan Howard Capital Management LP grew its position in Cal-Maine Foods by 234.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 44,645 shares of the basic materials company’s stock worth $4,595,000 after purchasing an additional 31,304 shares during the last quarter. Captrust Financial Advisors increased its stake in Cal-Maine Foods by 0.3% during the 4th quarter. Captrust Financial Advisors now owns 55,892 shares of the basic materials company’s stock valued at $5,752,000 after purchasing an additional 163 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Cal-Maine Foods in the fourth quarter worth $394,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Cal-Maine Foods during the fourth quarter worth $5,400,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Performance

Shares of CALM opened at $91.26 on Friday. The company has a market capitalization of $4.48 billion, a P/E ratio of 7.10 and a beta of 0.18. The business’s 50-day moving average is $91.53 and its two-hundred day moving average is $97.04. Cal-Maine Foods, Inc. has a fifty-two week low of $57.13 and a fifty-two week high of $116.41.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share for the quarter, beating the consensus estimate of $5.79 by $4.59. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $953.76 million. During the same period last year, the business earned $3.00 earnings per share. Cal-Maine Foods’s quarterly revenue was up 101.6% on a year-over-year basis. Analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Insider Buying and Selling

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 140,266 shares of the company’s stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $90.60, for a total value of $12,708,099.60. Following the completion of the transaction, the insider now owns 1,319,034 shares in the company, valued at approximately $119,504,480.40. This represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 13.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CALM. BMO Capital Markets upgraded Cal-Maine Foods to a “hold” rating in a research note on Tuesday. StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Stephens reiterated an “equal weight” rating and issued a $97.00 price target on shares of Cal-Maine Foods in a report on Wednesday, April 23rd.

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.