Algert Global LLC Cuts Stock Holdings in Cal-Maine Foods, Inc. $CALM

Key Points

• Algert Global LLC has reduced its stake in Cal-Maine Foods by 51.6%, now holding 46,921 shares valued at approximately $4.27 million as of the latest SEC filing.
• Multiple analysts have recently adjusted their price targets for Cal-Maine Foods, with Stephens raising it to $115.00 and the consensus price target now at $110.00.
• Cal-Maine Foods reported earnings of $7.04 per share for its latest quarter, significantly exceeding consensus estimates and marking a 72.1% increase in revenue compared to the same quarter last year.

Algert Global LLC reduced its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 51.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 46,921 shares of the basic materials company's stock after selling 50,010 shares during the period. Algert Global LLC owned approximately 0.10% of Cal-Maine Foods worth $4,265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new stake in Cal-Maine Foods during the 1st quarter worth about $30,000. Investment Management Corp VA ADV grew its position in shares of Cal-Maine Foods by 172.2% during the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 248 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Cal-Maine Foods in the 1st quarter valued at about $52,000. Blue Trust Inc. raised its holdings in Cal-Maine Foods by 388.2% in the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock worth $56,000 after purchasing an additional 493 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in Cal-Maine Foods in the 1st quarter worth about $77,000. 84.67% of the stock is owned by institutional investors and hedge funds.

Cal-Maine Foods Trading Down 0.5%

NASDAQ:CALM traded down $0.61 during trading hours on Monday, hitting $115.43. 585,333 shares of the stock were exchanged, compared to its average volume of 855,830. Cal-Maine Foods, Inc. has a 52-week low of $68.22 and a 52-week high of $126.40. The firm's fifty day moving average price is $105.56 and its 200 day moving average price is $97.65. The company has a market cap of $5.66 billion, a P/E ratio of 4.63 and a beta of 0.19.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The basic materials company reported $7.04 EPS for the quarter, topping the consensus estimate of $5.29 by $1.75. Cal-Maine Foods had a return on equity of 54.81% and a net margin of 28.63%.The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $877.03 million. During the same period in the previous year, the business earned $2.32 EPS. Cal-Maine Foods's quarterly revenue was up 72.1% on a year-over-year basis. Equities analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BMO Capital Markets increased their price target on Cal-Maine Foods from $100.00 to $105.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. The Goldman Sachs Group assumed coverage on Cal-Maine Foods in a research report on Thursday, August 14th. They set a "neutral" rating and a $110.00 price target on the stock. Wall Street Zen downgraded Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Stephens increased their price target on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $110.00.

Cal-Maine Foods 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.