Heron Financial Group LLC Acquires 865 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Heron Financial Group LLC lifted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 10.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,799 shares of the basic materials company’s stock after acquiring an additional 865 shares during the quarter. Heron Financial Group LLC’s holdings in Cal-Maine Foods were worth $335,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in Cal-Maine Foods by 70.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 36,615 shares of the basic materials company’s stock worth $1,405,000 after purchasing an additional 15,135 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Cal-Maine Foods by 20.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 34,365 shares of the basic materials company’s stock worth $1,318,000 after purchasing an additional 5,800 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Cal-Maine Foods by 12.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,737 shares of the basic materials company’s stock worth $567,000 after purchasing an additional 1,391 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in Cal-Maine Foods during the 2nd quarter worth approximately $295,000. Finally, Sei Investments Co. lifted its holdings in Cal-Maine Foods by 1,144.4% during the 2nd quarter. Sei Investments Co. now owns 67,809 shares of the basic materials company’s stock worth $3,032,000 after purchasing an additional 62,360 shares during the last quarter. Institutional investors own 63.34% of the company’s stock.

Several equities analysts have weighed in on the company. TheStreet cut Cal-Maine Foods from a “b-” rating to a “c” rating in a report on Wednesday, September 30th. BidaskClub cut Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Saturday, October 10th. Finally, Zacks Investment Research cut Cal-Maine Foods from a “buy” rating to a “sell” rating in a report on Thursday, October 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $49.00.

In other news, major shareholder Jean Morris Adams sold 1,380,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $39.00, for a total transaction of $53,820,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adolphus B. Baker sold 5,520,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $39.00, for a total value of $215,280,000.00. Following the sale, the chief executive officer now owns 160,143 shares in the company, valued at approximately $6,245,577. The disclosure for this sale can be found here. 27.50% of the stock is currently owned by insiders.

NASDAQ CALM traded up $0.28 during midday trading on Friday, hitting $38.45. The company had a trading volume of 362,730 shares, compared to its average volume of 488,543. Cal-Maine Foods, Inc. has a twelve month low of $30.74 and a twelve month high of $46.66. The company has a market capitalization of $1.88 billion, a PE ratio of 42.25 and a beta of -0.22. The firm has a 50-day moving average price of $38.87 and a 200-day moving average price of $42.14.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Saturday, October 3rd. The basic materials company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.13. Cal-Maine Foods had a return on equity of 4.61% and a net margin of 3.19%. The company had revenue of $292.80 million during the quarter, compared to analysts’ expectations of $282.42 million. During the same quarter in the previous year, the firm earned ($0.94) EPS. Cal-Maine Foods’s revenue was up 21.4% on a year-over-year basis. As a group, equities analysts predict that Cal-Maine Foods, Inc. will post 0.9 EPS for the current fiscal year.

About Cal-Maine Foods

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

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Institutional Ownership by Quarter for Cal-Maine Foods (NASDAQ:CALM)

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