31,127 Cal-Maine Foods, Inc. $CALM Shares Sold by Woodmont Investment Counsel LLC

Key Points

• Woodmont Investment Counsel reduced its Cal-Maine Foods stake by 86.2% in the third quarter, selling 31,127 shares and retaining 5,000 shares valued at approximately $340,000. Institutional investors and hedge funds collectively own 84.67% of CALM.
• Analyst sentiment remains cautious: one analyst rates the stock a Buy while five assign Hold ratings, resulting in an average “Hold” rating and an average price target of $84.17.
• Cal-Maine Foods reported a weaker quarter, with revenue down 41.5% year over year to $539.61 million and a loss of $1.26 per share, missing the consensus estimate of a $0.77 loss.

Woodmont Investment Counsel LLC trimmed its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 86.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,000 shares of the basic materials company's stock after selling 31,127 shares during the period. Woodmont Investment Counsel LLC's holdings in Cal-Maine Foods were worth $340,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MGO One Seven LLC raised its stake in shares of Cal-Maine Foods by 4.4% during the 3rd quarter. MGO One Seven LLC now owns 5,098 shares of the basic materials company's stock worth $347,000 after buying an additional 216 shares in the last quarter. Glenview Trust Co purchased a new stake in shares of Cal-Maine Foods in the third quarter valued at approximately $227,000. Evergreen Capital Management LLC grew its holdings in Cal-Maine Foods by 3.7% during the third quarter. Evergreen Capital Management LLC now owns 5,775 shares of the basic materials company's stock worth $393,000 after acquiring an additional 204 shares during the period. Inspire Investing LLC grew its holdings in Cal-Maine Foods by 12.4% during the third quarter. Inspire Investing LLC now owns 9,518 shares of the basic materials company's stock worth $648,000 after acquiring an additional 1,049 shares during the period. Finally, Cardinal Capital Management grew its holdings in Cal-Maine Foods by 9.7% during the third quarter. Cardinal Capital Management now owns 26,151 shares of the basic materials company's stock worth $1,780,000 after acquiring an additional 2,322 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CALM has been the subject of several research analyst reports. Stephens cut their price objective on Cal-Maine Foods from $80.00 to $70.00 and set an "equal weight" rating for the company in a research report on Thursday, October 1st. Raymond James Financial lowered shares of Cal-Maine Foods to an "outperform" rating in a research report on Thursday, October 1st. BMO Capital Markets reaffirmed a "market perform" rating on shares of Cal-Maine Foods in a research note on Tuesday, October 27th. The Goldman Sachs Group set a $60.00 price target on shares of Cal-Maine Foods in a report on Thursday, October 1st. Finally, Wells Fargo & Company set a $100.00 price objective on shares of Cal-Maine Foods in a research note on Monday, July 13th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $84.17.

Cal-Maine Foods Trading Up 3.9%

Shares of CALM opened at $66.04 on Tuesday. The company has a 50-day moving average of $69.61 and a two-hundred day moving average of $78.39. The stock has a market cap of $3.08 billion, a P/E ratio of 56.44 and a beta of 0.25. Cal-Maine Foods, Inc. has a 12-month low of $60.13 and a 12-month high of $95.25.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted 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 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 revenue was down 41.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.12 EPS.

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.

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