Smith Salley Wealth Management Sells 1,100 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Smith Salley Wealth Management trimmed its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 19.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,600 shares of the basic materials company’s stock after selling 1,100 shares during the period. Smith Salley Wealth Management’s holdings in Cal-Maine Foods were worth $473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in shares of Cal-Maine Foods during the third quarter valued at approximately $29,000. Hexagon Capital Partners LLC boosted its holdings in Cal-Maine Foods by 57.0% in the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in Cal-Maine Foods in the third quarter worth about $33,000. Quarry LP raised its holdings in Cal-Maine Foods by 1,975.0% during 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 last quarter. Finally, GAMMA Investing LLC lifted its position in Cal-Maine Foods by 62.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,101 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 425 shares during the period. 84.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. Stephens started coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price target on the stock.

Cal-Maine Foods Trading Up 1.5 %

Shares of Cal-Maine Foods stock opened at $113.63 on Monday. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 8.84 and a beta of -0.11. The company’s 50-day moving average price is $101.36 and its 200-day moving average price is $84.55. Cal-Maine Foods, Inc. has a 12-month low of $53.38 and a 12-month high of $114.40.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $954.70 million during the quarter, compared to analysts’ expectations of $751.50 million. During the same period in the previous year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 82.5% compared to the same quarter last year. On average, sell-side analysts predict that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Letitia Callender Hughes sold 809 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total value of $88,965.73. Following the completion of the transaction, the director now owns 42,761 shares of the company’s stock, valued at $4,702,427.17. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 13.45% 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.