Envestnet Portfolio Solutions Inc. Acquires Shares of 2,248 Cal-Maine Foods, Inc. (NASDAQ:CALM)

Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the 4th quarter, Holdings Channel reports. The fund purchased 2,248 shares of the basic materials company’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in Cal-Maine Foods by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 621,191 shares of the basic materials company’s stock worth $46,490,000 after purchasing an additional 20,528 shares during the last quarter. Citigroup Inc. increased its holdings in Cal-Maine Foods by 40.3% in the 3rd quarter. Citigroup Inc. now owns 72,911 shares of the basic materials company’s stock valued at $5,457,000 after acquiring an additional 20,935 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Cal-Maine Foods by 1.1% in the third quarter. Cerity Partners LLC now owns 28,754 shares of the basic materials company’s stock worth $2,152,000 after purchasing an additional 313 shares during the last quarter. D.A. Davidson & CO. bought a new position in shares of Cal-Maine Foods during the 3rd quarter valued at approximately $302,000. Finally, FMR LLC increased its holdings in shares of Cal-Maine Foods by 716.8% in the 3rd quarter. FMR LLC now owns 29,226 shares of the basic materials company’s stock worth $2,187,000 after buying an additional 25,648 shares during the last quarter. 84.67% of the stock is owned by institutional investors.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the business’s stock in a transaction that occurred on 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 directly owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.45% of the stock is owned by insiders.

Cal-Maine Foods Stock Down 1.3 %

Shares of Cal-Maine Foods stock opened at $91.01 on Friday. The company has a market cap of $4.46 billion, a P/E ratio of 7.08 and a beta of -0.12. Cal-Maine Foods, Inc. has a 52-week low of $55.00 and a 52-week high of $116.41. The firm’s 50 day moving average price is $97.15 and its 200-day moving average price is $94.25.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share 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 company had revenue of $954.70 million for the quarter, compared to the consensus estimate of $751.50 million. During the same quarter in the previous year, the firm earned $0.35 EPS. Cal-Maine Foods’s revenue was up 82.5% compared to the same quarter last year. As a group, equities research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Tuesday. Stephens reiterated an “equal weight” rating and issued a $97.00 target price on shares of Cal-Maine Foods in a report on Thursday, March 6th.

About Cal-Maine Foods

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.