Cadence Wealth Management LLC Boosts Stock Holdings in Cal-Maine Foods, Inc. $CALM

Cadence Wealth Management LLC boosted its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 189.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,686 shares of the basic materials company’s stock after purchasing an additional 6,994 shares during the period. Cadence Wealth Management LLC’s holdings in Cal-Maine Foods were worth $846,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CALM. Allspring Global Investments Holdings LLC purchased a new stake in shares of Cal-Maine Foods during the 4th quarter worth $6,244,000. Assetmark Inc. increased its holdings in shares of Cal-Maine Foods by 36.6% in the 4th quarter. Assetmark Inc. now owns 118,773 shares of the basic materials company’s stock valued at $9,451,000 after purchasing an additional 31,826 shares in the last quarter. UBS Group AG increased its holdings in shares of Cal-Maine Foods by 17.3% in the 4th quarter. UBS Group AG now owns 405,459 shares of the basic materials company’s stock valued at $32,262,000 after purchasing an additional 59,659 shares in the last quarter. Directional Asset Management acquired a new stake in shares of Cal-Maine Foods in the fourth quarter valued at about $1,094,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Cal-Maine Foods by 46.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 38,853 shares of the basic materials company’s stock worth $3,092,000 after buying an additional 12,248 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Stock Performance

Shares of NASDAQ:CALM opened at $87.25 on Wednesday. The business’s fifty day moving average price is $79.93 and its two-hundred day moving average price is $80.30. The stock has a market cap of $4.13 billion, a PE ratio of 6.08 and a beta of 0.25. Cal-Maine Foods, Inc. has a one year low of $71.92 and a one year high of $126.40.

Analyst Upgrades and Downgrades

CALM has been the subject of several research analyst reports. Stephens dropped their price objective on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 14th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a report on Monday, July 13th. BMO Capital Markets dropped their price target on Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a research report on Wednesday, March 25th. Wells Fargo & Company set a $100.00 price target on Cal-Maine Foods in a research note on Monday, July 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cal-Maine Foods in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Cal-Maine Foods presently has a consensus rating of “Hold” and a consensus price target of $94.29.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.