Advisors Asset Management Inc. Cuts Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Advisors Asset Management Inc. lowered its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 10.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,630 shares of the basic materials company’s stock after selling 4,073 shares during the period. Advisors Asset Management Inc. owned 0.07% of Cal-Maine Foods worth $2,667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new position in shares of Cal-Maine Foods in the 3rd quarter worth $29,000. Hantz Financial Services Inc. purchased a new stake in shares of Cal-Maine Foods during the second quarter valued at about $25,000. Hexagon Capital Partners LLC boosted its holdings in shares of Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after buying an additional 155 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Cal-Maine Foods in the 3rd quarter worth approximately $33,000. Finally, Quarry LP raised its stake in shares of Cal-Maine Foods by 1,975.0% during the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 553 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CALM. StockNews.com downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday. Stephens initiated coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective for the company.

Cal-Maine Foods Stock Up 0.2 %

Cal-Maine Foods stock opened at $95.96 on Friday. Cal-Maine Foods, Inc. has a 52 week low of $46.30 and a 52 week high of $96.63. The stock has a 50-day moving average price of $86.02 and a 200 day moving average price of $72.10. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 10.99 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Tuesday, October 1st. The basic materials company reported $3.06 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.30). Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The business had revenue of $785.87 million during the quarter, compared to analysts’ expectations of $704.65 million. During the same period last year, the company earned $0.02 earnings per share. The firm’s revenue was up 71.1% on a year-over-year basis. Research analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 EPS for the current fiscal year.

Cal-Maine Foods Company 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.