Synovus Financial Corp Acquires New Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Synovus Financial Corp bought a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) during the fourth quarter, Holdings Channel.com reports. The firm bought 2,486 shares of the basic materials company’s stock, valued at approximately $256,000.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Cal-Maine Foods by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 4,905,606 shares of the basic materials company’s stock worth $504,885,000 after purchasing an additional 118,162 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Cal-Maine Foods by 12.7% in the fourth quarter. American Century Companies Inc. now owns 1,266,621 shares of the basic materials company’s stock valued at $130,361,000 after buying an additional 143,189 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Cal-Maine Foods by 11.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 998,844 shares of the basic materials company’s stock valued at $102,801,000 after buying an additional 104,512 shares during the last quarter. Geode Capital Management LLC boosted its position in Cal-Maine Foods by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 988,599 shares of the basic materials company’s stock worth $74,000,000 after buying an additional 10,984 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cal-Maine Foods by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 644,130 shares of the basic materials company’s stock worth $66,294,000 after acquiring an additional 22,939 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Adolphus B. Baker sold 140,266 shares of the company’s stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $90.60, for a total transaction of $12,708,099.60. Following the transaction, the insider now owns 1,319,034 shares in the company, valued at approximately $119,504,480.40. This represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.45% of the stock is currently owned by corporate insiders.

Cal-Maine Foods Stock Performance

NASDAQ:CALM opened at $91.49 on Friday. Cal-Maine Foods, Inc. has a 52 week low of $55.15 and a 52 week high of $116.41. The firm’s fifty day moving average is $91.33 and its 200-day moving average is $96.53. The firm has a market cap of $4.49 billion, a P/E ratio of 7.12 and a beta of 0.11.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share for the quarter, topping analysts’ consensus estimates of $5.79 by $4.59. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $953.76 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The business’s revenue was up 101.6% compared to the same quarter last year. During the same period last year, the business posted $3.00 EPS. As a group, sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CALM. StockNews.com lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Thursday, April 10th. Stephens reaffirmed an “equal weight” rating and set 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.