Massachusetts Financial Services Co. MA increased its stake in shares of Cal-Maine Foods Inc (NASDAQ:CALM) by 117.3% during the first quarter, Holdings Channel reports. The fund owned 1,712,526 shares of the basic materials company’s stock after buying an additional 924,563 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Cal-Maine Foods were worth $63,021,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Melvin Capital Management LP bought a new position in shares of Cal-Maine Foods during the third quarter valued at approximately $21,197,000. Cetera Advisors LLC boosted its position in shares of Cal-Maine Foods by 5.5% in the third quarter. Cetera Advisors LLC now owns 6,264 shares of the basic materials company’s stock valued at $243,000 after buying an additional 325 shares during the period. Auxier Asset Management boosted its position in shares of Cal-Maine Foods by 16.7% in the third quarter. Auxier Asset Management now owns 7,001 shares of the basic materials company’s stock valued at $270,000 after buying an additional 1,000 shares during the period. Monroe Bank & Trust MI boosted its position in shares of Cal-Maine Foods by 4.3% in the third quarter. Monroe Bank & Trust MI now owns 28,115 shares of the basic materials company’s stock valued at $1,087,000 after buying an additional 1,159 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of Cal-Maine Foods during the fourth quarter valued at about $3,342,000. 56.52% of the stock is owned by institutional investors and hedge funds.
Cal-Maine Foods Inc (CALM) traded up 0.26% during midday trading on Thursday, hitting $38.30. 164,102 shares of the stock traded hands. The stock’s 50-day moving average price is $38.36 and its 200 day moving average price is $39.73. The company’s market capitalization is $1.86 billion. Cal-Maine Foods Inc has a 52 week low of $35.10 and a 52 week high of $46.71.
Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Monday, March 27th. The basic materials company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.07. The business had revenue of $306.50 million during the quarter, compared to analysts’ expectations of $331.87 million. Cal-Maine Foods had a return on equity of 1.10% and a net margin of 0.79%. The firm’s quarterly revenue was down 31.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 earnings per share. On average, equities research analysts predict that Cal-Maine Foods Inc will post ($0.98) EPS for the current year.
Several equities analysts have issued reports on CALM shares. Zacks Investment Research cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, March 15th. Goldman Sachs Group Inc decreased their price target on shares of Cal-Maine Foods from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, March 27th. ValuEngine upgraded shares of Cal-Maine Foods from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Cleveland Research cut shares of Cal-Maine Foods from a “neutral” rating to an “underperform” rating and set a $30.00 price target for the company. in a research report on Tuesday, May 30th. Finally, DA Davidson restated a “buy” rating and issued a $35.00 price target (down from $37.00) on shares of Cal-Maine Foods in a research report on Wednesday, March 22nd. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $37.50.
Cal-Maine Foods Company Profile
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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