Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 39,605 shares of the basic materials company’s stock, valued at approximately $4,076,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Cal-Maine Foods at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CALM. JPMorgan Chase & Co. grew its position in Cal-Maine Foods by 88.6% in the third quarter. JPMorgan Chase & Co. now owns 340,155 shares of the basic materials company’s stock valued at $25,457,000 after purchasing an additional 159,787 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Cal-Maine Foods by 652.6% in the 3rd quarter. Two Sigma Advisers LP now owns 160,300 shares of the basic materials company’s stock valued at $11,997,000 after acquiring an additional 139,000 shares during the period. Bank of New York Mellon Corp grew its position in shares of Cal-Maine Foods by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 517,609 shares of the basic materials company’s stock valued at $53,272,000 after acquiring an additional 76,387 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of Cal-Maine Foods by 130.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 132,460 shares of the basic materials company’s stock valued at $9,913,000 after acquiring an additional 75,090 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Cal-Maine Foods by 52.5% in the 4th quarter. Victory Capital Management Inc. now owns 196,874 shares of the basic materials company’s stock valued at $20,262,000 after acquiring an additional 67,807 shares during the period. Institutional investors own 84.67% of the company’s stock.

Insider Buying and Selling

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of Cal-Maine Foods stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total value of $88,965.73. Following the completion of the sale, the director now owns 42,761 shares in the company, valued at $4,702,427.17. The trade was a 1.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.45% of the stock is currently owned by insiders.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $83.03 on Monday. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 6.46 and a beta of -0.12. The company has a 50-day simple moving average of $100.44 and a 200 day simple moving average of $93.13. Cal-Maine Foods, Inc. has a 52 week low of $55.00 and a 52 week high of $116.41.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Tuesday, January 7th. The basic materials company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.05 by $0.42. The business had revenue of $954.70 million during the quarter, compared to the consensus estimate of $751.50 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. Cal-Maine Foods’s revenue was up 82.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. Sell-side analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Analysts Set New Price Targets

CALM has been the subject of a number of analyst reports. Stephens reissued an “equal weight” rating and issued a $97.00 price objective on shares of Cal-Maine Foods in a research report on Thursday, March 6th. StockNews.com raised shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th.

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.