Cal-Maine Foods, Inc. $CALM Shares Bought by Freedom Investment Management Inc.

Key Points

• Freedom Investment Management Inc. has increased its holdings in Cal-Maine Foods by 90.7%, owning a total of 5,653 shares valued at approximately $514,000.
• Cal-Maine Foods reported strong earnings results with an EPS of $7.04, surpassing the consensus estimate of $5.29, and a revenue of $1.10 billion for the quarter.
• Multiple analysts have recently updated their price targets for Cal-Maine Foods, with an average target price set at $110.00 following evaluations from firms like BMO Capital Markets and Goldman Sachs.

Freedom Investment Management Inc. increased its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 90.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,653 shares of the basic materials company's stock after buying an additional 2,688 shares during the quarter. Freedom Investment Management Inc.'s holdings in Cal-Maine Foods were worth $514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in Cal-Maine Foods in the 1st quarter valued at $30,000. Investment Management Corp VA ADV grew its stake in Cal-Maine Foods by 172.2% in 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 acquired a new stake in Cal-Maine Foods in the 1st quarter valued at $52,000. Blue Trust Inc. grew its stake 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 valued at $56,000 after acquiring an additional 493 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in Cal-Maine Foods in the 1st quarter valued at $77,000. Institutional investors and hedge funds own 84.67% of the company's stock.

Cal-Maine Foods Stock Down 0.4%

Shares of CALM opened at $114.99 on Wednesday. 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 is $105.85 and its two-hundred day moving average is $97.77. The stock has a market cap of $5.64 billion, a PE ratio of 4.61 and a beta of 0.19.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its 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. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $877.03 million. During the same quarter in the previous year, the company posted $2.32 EPS. The firm's quarterly revenue was up 72.1% on a year-over-year basis. As a group, research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Analysts Set New Price Targets

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

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.

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