Cal-Maine Foods, Inc. $CALM Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 3.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 336,100 shares of the basic materials company’s stock after selling 10,700 shares during the quarter. Hennessy Advisors Inc. owned 0.72% of Cal-Maine Foods worth $22,875,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CALM. CoreCap Advisors LLC lifted 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 worth $93,000 after purchasing an additional 137 shares in the last quarter. DGS Capital Management LLC boosted its holdings in Cal-Maine Foods by 6.7% during the 1st quarter. DGS Capital Management LLC now owns 2,932 shares of the basic materials company’s stock valued at $232,000 after acquiring an additional 183 shares during the period. Evergreen Capital Management LLC lifted its holdings in Cal-Maine Foods by 3.7% during the 3rd quarter. Evergreen Capital Management LLC now owns 5,775 shares of the basic materials company’s stock worth $393,000 after buying an additional 204 shares in the last quarter. MGO One Seven LLC boosted its holdings in Cal-Maine Foods by 4.4% in the third quarter. MGO One Seven LLC now owns 5,098 shares of the basic materials company’s stock valued at $347,000 after purchasing an additional 216 shares during the period. Finally, Navellier & Associates Inc. increased its stake in shares of Cal-Maine Foods by 0.7% during the second quarter. Navellier & Associates Inc. now owns 33,262 shares of the basic materials company’s stock worth $2,680,000 after buying an additional 229 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. BMO Capital Markets reissued a “market perform” rating on shares of Cal-Maine Foods in a report on Tuesday, October 27th. Raymond James Financial downgraded shares of Cal-Maine Foods to an “outperform” rating in a research report on Thursday, October 1st. Wells Fargo & Company set a $100.00 price objective on shares of Cal-Maine Foods in a research report on Monday, July 13th. Wall Street Zen downgraded Cal-Maine Foods from a “sell” rating to a “strong sell” rating in a report on Saturday, September 26th. Finally, The Goldman Sachs Group set a $60.00 price target on shares of Cal-Maine Foods in a research report on Thursday, October 1st. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cal-Maine Foods presently has an average rating of “Hold” and a consensus price target of $84.17.

Cal-Maine Foods Price Performance

Cal-Maine Foods stock opened at $63.56 on Monday. The firm has a 50-day moving average price of $69.95 and a two-hundred day moving average price of $78.42. Cal-Maine Foods, Inc. has a 52-week low of $60.13 and a 52-week high of $95.25. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 54.32 and a beta of 0.28.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Wednesday, September 30th. The basic materials company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.49). The company had revenue of $539.61 million for 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 firm’s quarterly revenue was down 41.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.12 EPS.

Cal-Maine Foods Company Profile

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.