40,677 Cal-Maine Foods, Inc. $CALM Shares Sold by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC cut its Cal-Maine Foods stake by 95% in the second quarter, selling 40,677 shares and retaining 2,157 shares worth approximately $174,000.
• Institutional ownership remains high at 84.67%, with several firms increasing or initiating positions during the quarter.
• Analysts maintain a generally cautious outlook, with an average “Hold” rating and an $88.86 price target. Cal-Maine recently reported a significant earnings miss, a 49.9% year-over-year revenue decline, and a quarterly loss of $0.76 per share.

Integrated Wealth Concepts LLC trimmed its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 95.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,157 shares of the basic materials company's stock after selling 40,677 shares during the period. Integrated Wealth Concepts LLC's holdings in Cal-Maine Foods were worth $174,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its holdings in shares of Cal-Maine Foods by 10.2% during the second quarter. NewEdge Advisors LLC now owns 4,518 shares of the basic materials company's stock worth $364,000 after buying an additional 418 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Cal-Maine Foods by 3.8% in the 2nd quarter. Baird Financial Group Inc. now owns 187,732 shares of the basic materials company's stock valued at $15,124,000 after acquiring an additional 6,923 shares in the last quarter. Waverly Advisors LLC bought a new stake in Cal-Maine Foods in the 2nd quarter valued at approximately $277,000. Nykredit A S acquired a new position in Cal-Maine Foods during the 2nd quarter worth approximately $180,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Cal-Maine Foods during the 2nd quarter worth approximately $3,182,000. 84.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CALM shares. Stephens set a $80.00 price objective on shares of Cal-Maine Foods and gave the company an "equal weight" rating in a report on Tuesday. The Goldman Sachs Group restated a "neutral" rating and set a $70.00 target price on shares of Cal-Maine Foods in a report on Friday, September 18th. Benchmark lowered shares of Cal-Maine Foods from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 4th. Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a research report on Monday, July 13th. Finally, BMO Capital Markets restated a "market perform" rating and set a $75.00 price objective (down from $83.00) on shares of Cal-Maine Foods in a research note on Thursday. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $88.86.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $67.43 on Friday. The company has a market cap of $3.16 billion, a P/E ratio of 10.29 and a beta of 0.23. The firm's fifty day moving average price is $80.62 and its two-hundred day moving average price is $79.80. Cal-Maine Foods, Inc. has a one year low of $66.62 and a one year high of $101.86.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.84). Cal-Maine Foods had a net margin of 10.88% and a return on equity of 11.79%. The company had revenue of $552.58 million during the quarter, compared to analyst estimates of $563.83 million. During the same quarter last year, the company posted $7.04 EPS. The firm's quarterly revenue was down 49.9% on a year-over-year basis.

Cal-Maine Foods Profile

Cal-Maine Foods, Inc is a leading producer and distributor of shell eggs in the United States. The company manages a vertically integrated business that includes egg production, processing, packaging, marketing and distribution. Its products are sold to retail grocery chains, foodservice customers, food processors and institutional buyers.

Cal-Maine offers conventional shell eggs as well as specialty products, including cage-free, organic, brown, free-range and nutritionally enhanced eggs.

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