Foster & Motley Inc. Takes Position in Cal-Maine Foods, Inc. $CALM

Foster & Motley Inc. purchased a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,539 shares of the basic materials company’s stock, valued at approximately $527,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Smartleaf Asset Management LLC boosted its holdings in Cal-Maine Foods by 12.8% in the second quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 116 shares during the last quarter. MML Investors Services LLC raised its position in shares of Cal-Maine Foods by 1.8% in the 4th quarter. MML Investors Services LLC now owns 7,428 shares of the basic materials company’s stock valued at $591,000 after purchasing an additional 131 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Cal-Maine Foods by 0.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 23,884 shares of the basic materials company’s stock valued at $1,900,000 after buying an additional 131 shares during the last quarter. CoreCap Advisors LLC grew its position in shares of Cal-Maine Foods by 13.5% during the second quarter. CoreCap Advisors LLC now owns 1,153 shares of the basic materials company’s stock worth $93,000 after buying an additional 137 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of Cal-Maine Foods by 58.2% during the third quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock worth $37,000 after buying an additional 139 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CALM. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Monday, July 13th. Wells Fargo & Company set a $100.00 price objective on shares of Cal-Maine Foods in a report on Monday, July 13th. Wall Street Zen downgraded shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Royal Bank Of Canada set a $100.00 target price on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Finally, Stephens reduced their price target on shares of Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 14th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $94.71.

Cal-Maine Foods Stock Performance

Cal-Maine Foods stock opened at $82.43 on Friday. Cal-Maine Foods, Inc. has a 1 year low of $71.92 and a 1 year high of $117.45. The firm’s 50-day moving average is $83.69 and its 200-day moving average is $81.36. The company has a market cap of $3.87 billion, a P/E ratio of 12.58 and a beta of 0.25.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.84). The business had revenue of $552.58 million for the quarter, compared to the consensus estimate of $563.83 million. Cal-Maine Foods had a net margin of 10.88% and a return on equity of 11.79%. Cal-Maine Foods’s quarterly revenue was down 49.9% on a year-over-year basis. During the same period in the prior year, the company earned $7.04 EPS.

Cal-Maine Foods 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.