Cal-Maine Foods, Inc. $CALM Stock Position Raised by Assetmark Inc.

Key Points

• Assetmark Inc. increased its Cal-Maine Foods stake by 10.0% in the first quarter, buying 11,868 additional shares and bringing its holdings to 130,641 shares worth about $10.34 million.
• Institutional ownership remains high, with several other funds also adding positions, and institutions overall owning 84.67% of Cal-Maine Foods shares.
• Analyst sentiment is mixed but cautious: the stock has a Hold consensus rating with a $94.29 target price, while shares recently traded at $88.42.

Assetmark Inc. lifted its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 130,641 shares of the basic materials company's stock after buying an additional 11,868 shares during the quarter. Assetmark Inc. owned about 0.28% of Cal-Maine Foods worth $10,340,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pinnacle Holdings LLC acquired a new position in Cal-Maine Foods during the fourth quarter worth $30,000. WealthCollab LLC lifted its position in shares of Cal-Maine Foods by 105.2% in the fourth quarter. WealthCollab LLC now owns 431 shares of the basic materials company's stock worth $34,000 after buying an additional 221 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Cal-Maine Foods by 58.2% in the third quarter. IFP Advisors Inc now owns 378 shares of the basic materials company's stock worth $37,000 after buying an additional 139 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Cal-Maine Foods by 46.5% during the 4th quarter. Signaturefd LLC now owns 488 shares of the basic materials company's stock worth $39,000 after acquiring an additional 155 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Cal-Maine Foods during the 3rd quarter worth about $42,000. Institutional investors own 84.67% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Cal-Maine Foods from $85.00 to $80.00 and set a "market perform" rating for the company in a report on Wednesday, March 25th. Royal Bank Of Canada set a $100.00 target price on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Wells Fargo & Company set a $100.00 target price on Cal-Maine Foods in a report on Monday, July 13th. Benchmark reaffirmed a "buy" rating on shares of Cal-Maine Foods in a research report on Monday, July 13th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Cal-Maine Foods in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cal-Maine Foods presently has a consensus rating of "Hold" and a consensus target price of $94.29.

Cal-Maine Foods Price Performance

Shares of CALM opened at $88.42 on Tuesday. The company has a market capitalization of $4.19 billion, a P/E ratio of 6.16 and a beta of 0.25. Cal-Maine Foods, Inc. has a one year low of $71.92 and a one year high of $126.40. The business's 50 day simple moving average is $79.76 and its 200-day simple moving average is $80.24.

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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