Assetmark Inc. Acquires 17,668 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• Assetmark Inc. increased its stake in Cal-Maine Foods by 23.6% in Q1, acquiring 17,668 shares, bringing its total ownership to approximately 92,674 shares valued at $8.42 million.
• Cal-Maine Foods reported a strong earnings quarter, with $7.04 EPS beating estimates of $5.29 and achieving a 72.1% year-over-year revenue increase at $1.10 billion.
• Multiple hedge funds significantly adjusted their holdings in Cal-Maine Foods, with over 84% of the stock now owned by institutional investors, indicating robust institutional interest in the company.

Assetmark Inc. boosted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 23.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,674 shares of the basic materials company's stock after purchasing an additional 17,668 shares during the quarter. Assetmark Inc. owned approximately 0.19% of Cal-Maine Foods worth $8,424,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Evergreen Capital Management LLC boosted its position in Cal-Maine Foods by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 5,755 shares of the basic materials company's stock valued at $592,000 after purchasing an additional 97 shares during the period. Two Sigma Securities LLC lifted its holdings in shares of Cal-Maine Foods by 2.8% in the fourth quarter. Two Sigma Securities LLC now owns 3,894 shares of the basic materials company's stock valued at $401,000 after buying an additional 106 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Cal-Maine Foods by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,290 shares of the basic materials company's stock worth $442,000 after purchasing an additional 136 shares during the period. Captrust Financial Advisors raised its position in shares of Cal-Maine Foods by 0.3% during the fourth quarter. Captrust Financial Advisors now owns 55,892 shares of the basic materials company's stock worth $5,752,000 after purchasing an additional 163 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in shares of Cal-Maine Foods by 8.2% during the first quarter. Sequoia Financial Advisors LLC now owns 2,511 shares of the basic materials company's stock worth $228,000 after purchasing an additional 191 shares during the period. 84.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets boosted their target price 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. Wall Street Zen lowered Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Stephens upped their price target on Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th.

Cal-Maine Foods Stock Performance

NASDAQ:CALM traded up $0.30 during trading hours on Thursday, hitting $111.46. 235,764 shares of the company's stock traded hands, compared to its average volume of 981,623. The stock's fifty day moving average price is $100.72 and its two-hundred day moving average price is $97.95. Cal-Maine Foods, Inc. has a twelve month low of $67.40 and a twelve month high of $126.40. The firm has a market cap of $5.47 billion, a P/E ratio of 4.47 and a beta of 0.17.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.29 by $1.75. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $877.03 million. Cal-Maine Foods had a return on equity of 54.81% and a net margin of 28.63%. The firm's revenue was up 72.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.32 EPS. On average, equities research analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

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.