Cal-Maine Foods, Inc. $CALM Shares Sold by Burney Co.

Key Points

• Burney Co. cut its Cal-Maine Foods stake by 70.1% in the first quarter, selling 49,534 shares and leaving it with 21,079 shares worth about $1.67 million.
• Other institutional investors made mixed moves in CALM, with several new positions opened, and overall institutional ownership remains high at 84.67% of the stock.
• Analysts are cautious on the name: the stock has an average Hold rating and an average price target of $94.17, while shares recently traded at $85.08.

Burney Co. lowered its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 70.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,079 shares of the basic materials company's stock after selling 49,534 shares during the period. Burney Co.'s holdings in Cal-Maine Foods were worth $1,668,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CALM. Integrated Advisors Network LLC acquired a new position in shares of Cal-Maine Foods during the 1st quarter valued at $399,000. Abel Hall LLC acquired a new stake in Cal-Maine Foods in the 1st quarter valued at $219,000. DGS Capital Management LLC raised its position in Cal-Maine Foods by 6.7% in the first quarter. DGS Capital Management LLC now owns 2,932 shares of the basic materials company's stock valued at $232,000 after purchasing an additional 183 shares during the period. Stephens Inc. AR purchased a new stake in shares of Cal-Maine Foods during the 1st quarter valued at about $1,383,000. Finally, QRG Capital Management Inc. acquired a new position in shares of Cal-Maine Foods in the first quarter worth about $524,000. Hedge funds and other institutional investors own 84.67% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. BMO Capital Markets reduced their price target on shares of Cal-Maine Foods from $85.00 to $80.00 and set a "market perform" rating on the stock in a research report on Wednesday, March 25th. Benchmark reissued a "buy" rating on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Royal Bank Of Canada set a $100.00 price objective on Cal-Maine Foods in a research report on Tuesday, May 26th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cal-Maine Foods in a research report on Friday, March 27th. Finally, Stephens increased their price target on Cal-Maine Foods from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 18th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Cal-Maine Foods currently has an average rating of "Hold" and an average price target of $94.17.

Cal-Maine Foods Stock Performance

Shares of CALM opened at $85.08 on Thursday. Cal-Maine Foods, Inc. has a twelve month low of $71.92 and a twelve month high of $126.40. The firm's 50 day moving average price is $78.14 and its 200 day moving average price is $80.04. The firm has a market cap of $4.03 billion, a PE ratio of 5.93 and a beta of 0.25.

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. 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.

Want to see what other hedge funds are holding CALM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.