Cal-Maine Foods, Inc. $CALM Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 56.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,409 shares of the basic materials company’s stock after selling 9,598 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cal-Maine Foods were worth $504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CALM. CoreCap Advisors LLC raised its stake in Cal-Maine Foods by 13.5% in the 2nd quarter. CoreCap Advisors LLC now owns 1,153 shares of the basic materials company’s stock valued at $93,000 after acquiring an additional 137 shares during the period. DGS Capital Management LLC boosted its position in Cal-Maine Foods by 6.7% during the first quarter. DGS Capital Management LLC now owns 2,932 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 183 shares during the period. Stegent Equity Advisors Inc. boosted its position in Cal-Maine Foods by 4.0% during the first quarter. Stegent Equity Advisors Inc. now owns 5,279 shares of the basic materials company’s stock worth $418,000 after purchasing an additional 202 shares during the period. Navellier & Associates Inc. increased its holdings in shares of Cal-Maine Foods by 0.7% in the second quarter. Navellier & Associates Inc. now owns 33,262 shares of the basic materials company’s stock valued at $2,680,000 after purchasing an additional 229 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of Cal-Maine Foods by 4.2% in the first quarter. Private Advisor Group LLC now owns 6,215 shares of the basic materials company’s stock valued at $492,000 after purchasing an additional 250 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Price Performance

CALM opened at $62.60 on Friday. The business has a fifty day simple moving average of $71.70 and a 200 day simple moving average of $77.27. The company has a market capitalization of $2.92 billion, a PE ratio of 53.50 and a beta of 0.25. Cal-Maine Foods, Inc. has a 1 year low of $60.13 and a 1 year high of $95.25.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings data on Wednesday, September 30th. The basic materials company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.49). The firm had revenue of $539.61 million during the quarter, compared to analyst estimates of $561.57 million. Cal-Maine Foods had a net margin of 2.32% and a return on equity of 2.21%. The business’s quarterly revenue was down 41.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.12 earnings per share.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Cal-Maine Foods from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 26th. Stephens reduced their target price on shares of Cal-Maine Foods from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Thursday, October 1st. Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a research note on Monday, July 13th. BMO Capital Markets reissued a “market perform” rating and issued a $75.00 price target (down from $83.00) on shares of Cal-Maine Foods in a report on Thursday, September 24th. Finally, The Goldman Sachs Group set a $60.00 price target on shares of Cal-Maine Foods in a report on Thursday, October 1st. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.17.

About Cal-Maine Foods

Cal-Maine Foods, Inc (NASDAQ: CALM) is a major producer and distributor of shell eggs in the United States. The company supplies eggs to grocery retailers, foodservice distributors, restaurants, food processors and institutional customers.

Its product portfolio includes conventional shell eggs as well as specialty products such as cage-free, organic, free-range, nutritionally enhanced and omega-3 eggs. Cal-Maine also markets hard-cooked eggs and other value-added egg products through its brands and customer relationships.

Founded in 1969 and headquartered in Jackson, Mississippi, Cal-Maine operates egg production, processing, packaging and distribution facilities in multiple U.S.