NewEdge Advisors LLC Trims Holdings in Cal-Maine Foods, Inc. $CALM

NewEdge Advisors LLC decreased its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 83.4% in the first quarter, HoldingsChannel reports. The firm owned 4,100 shares of the basic materials company’s stock after selling 20,596 shares during the quarter. NewEdge Advisors LLC’s holdings in Cal-Maine Foods were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. IFP Advisors Inc increased its holdings in Cal-Maine Foods by 58.2% in the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock worth $37,000 after buying an additional 139 shares during the period. Pinnacle Holdings LLC acquired a new stake in Cal-Maine Foods during the 4th quarter valued at approximately $30,000. National Bank of Canada FI acquired a new stake in Cal-Maine Foods during the 3rd quarter valued at approximately $42,000. Quarry LP lifted its stake in Cal-Maine Foods by 146.6% during the 3rd quarter. Quarry LP now owns 587 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 349 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Cal-Maine Foods in the 4th quarter valued at $51,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CALM. BMO Capital Markets increased their price objective on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the stock a “market perform” rating in a research note on Thursday, July 23rd. Wells Fargo & Company set a $100.00 target price on shares of Cal-Maine Foods in a research report on Monday, July 13th. Royal Bank Of Canada set a $100.00 price target on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Stephens cut their price target on 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. Finally, Weiss Ratings lowered Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Cal-Maine Foods currently has a consensus rating of “Hold” and a consensus target price of $94.71.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $82.80 on Monday. The firm has a market cap of $3.88 billion, a PE ratio of 12.64 and a beta of 0.25. Cal-Maine Foods, Inc. has a twelve month low of $71.92 and a twelve month high of $117.45. The business has a 50-day moving average price of $83.78 and a 200 day moving average price of $81.35.

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