Cal-Maine Foods, Inc. $CALM Shares Purchased by Edgestream Partners L.P.

Key Points

• Edgestream Partners increased its Cal-Maine Foods stake by 64.4% in the first quarter, purchasing 60,558 additional shares for a total holding of 154,627 shares valued at approximately $12.2 million. Institutional investors and hedge funds own 84.67% of the company.
• Analyst sentiment remains cautious: Cal-Maine has a consensus “Hold” rating and a $94.71 price target, with one Buy rating and four Hold ratings; Wall Street Zen and Weiss Ratings recently downgraded the stock.
• Cal-Maine reported a quarterly loss of $0.76 per share, missing estimates by $0.84, while revenue fell 49.9% year over year to $552.6 million. Shares opened at $93.50, with a market capitalization of $4.43 billion.

Edgestream Partners L.P. boosted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 64.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,627 shares of the basic materials company's stock after purchasing an additional 60,558 shares during the quarter. Cal-Maine Foods makes up approximately 0.4% of Edgestream Partners L.P.'s holdings, making the stock its 19th largest holding. Edgestream Partners L.P. owned about 0.33% of Cal-Maine Foods worth $12,239,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in shares of Cal-Maine Foods by 12.8% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company's stock valued at $101,000 after buying an additional 116 shares during the last quarter. MML Investors Services LLC increased its stake in shares of Cal-Maine Foods by 1.8% in the fourth quarter. MML Investors Services LLC now owns 7,428 shares of the basic materials company's stock worth $591,000 after buying an additional 131 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in Cal-Maine Foods by 0.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 23,884 shares of the basic materials company's stock valued at $1,900,000 after acquiring an additional 131 shares in the last quarter. IFP Advisors Inc raised its holdings in Cal-Maine Foods by 58.2% in the third quarter. IFP Advisors Inc now owns 378 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 139 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in Cal-Maine Foods by 4.1% in the third quarter. Private Advisor Group LLC now owns 3,899 shares of the basic materials company's stock valued at $367,000 after acquiring an additional 154 shares in the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Cal-Maine Foods from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Benchmark restated a "buy" rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. Weiss Ratings lowered shares of Cal-Maine Foods from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 23rd. Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a research report on Monday, July 13th. Finally, Royal Bank Of Canada set a $100.00 price target on Cal-Maine Foods in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Cal-Maine Foods currently has a consensus rating of "Hold" and a consensus price target of $94.71.

Cal-Maine Foods Stock Performance

Shares of NASDAQ:CALM opened at $93.50 on Thursday. The company's fifty day moving average is $81.39 and its two-hundred day moving average is $80.81. Cal-Maine Foods, Inc. has a 1-year low of $71.92 and a 1-year high of $117.45. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 14.27 and a beta of 0.25.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) EPS for the quarter, missing the consensus estimate 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 business had revenue of $552.58 million during the quarter, compared to analyst estimates of $563.83 million. During the same period last year, the firm posted $7.04 earnings per share. The company's quarterly revenue was down 49.9% on a year-over-year basis.

About Cal-Maine Foods

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.

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