Shell Asset Management Co. cut its stake in shares of Cal-Maine Foods Inc. (NASDAQ:CALM) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,111 shares of the company’s stock after selling 3,706 shares during the period. Shell Asset Management Co.’s holdings in Cal-Maine Foods were worth $2,886,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Adams Diversified Equity Fund Inc. acquired a new stake in Cal-Maine Foods during the second quarter valued at approximately $288,000. Huntington Asset Advisors Inc. acquired a new stake in Cal-Maine Foods during the first quarter valued at approximately $311,000. Fox Run Management L.L.C. acquired a new stake in Cal-Maine Foods during the second quarter valued at approximately $328,000. Acrospire Investment Management LLC acquired a new stake in Cal-Maine Foods during the first quarter valued at approximately $337,000. Finally, HBK Investments L P acquired a new stake in Cal-Maine Foods during the first quarter valued at approximately $351,000. 63.77% of the stock is currently owned by institutional investors and hedge funds.
Cal-Maine Foods Inc. (NASDAQ:CALM) traded down 0.09% during trading on Friday, reaching $42.17. 533,452 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $43.48 and a 200 day moving average price of $46.09. Cal-Maine Foods Inc. has a 52 week low of $39.60 and a 52 week high of $63.25. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 6.46 and a beta of 0.70.
Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Monday, July 18th. The company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.18. The business earned $303 million during the quarter, compared to the consensus estimate of $304.29 million. Cal-Maine Foods had a return on equity of 36.02% and a net margin of 16.56%. Cal-Maine Foods’s revenue was down 24.8% on a year-over-year basis. During the same quarter last year, the company earned $0.95 EPS. Equities research analysts forecast that Cal-Maine Foods Inc. will post $1.25 earnings per share for the current fiscal year.
Several analysts have recently commented on CALM shares. Zacks Investment Research raised shares of Cal-Maine Foods from a “strong sell” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Monday, August 15th. Vetr cut shares of Cal-Maine Foods from a “strong-buy” rating to a “buy” rating and set a $46.33 target price for the company. in a research note on Wednesday, August 3rd. Finally, BB&T Corp. upgraded shares of Cal-Maine Foods from an “underweight” rating to a “hold” rating in a research note on Thursday, June 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $52.87.
About Cal-Maine Foods
Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.
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