Harvest Fund Management Co. Ltd Sells 9,207 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• Harvest Fund Management Co. Ltd significantly reduced its holdings in Cal-Maine Foods by 77.2% during the first quarter, now owning 2,726 shares valued at $247,000.
• Several hedge funds, including Evergreen Capital Management and Two Sigma Securities, adjusted their stakes in Cal-Maine Foods, demonstrating ongoing interest among institutional investors who own 84.67% of the company's stock.
• Cal-Maine Foods reported a substantial 72.1% year-over-year revenue increase for the quarter, earning $7.04 EPS compared to analysts' expectations of $5.29, indicating strong financial performance.

Harvest Fund Management Co. Ltd lowered its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 77.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,726 shares of the basic materials company's stock after selling 9,207 shares during the period. Harvest Fund Management Co. Ltd's holdings in Cal-Maine Foods were worth $247,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CALM. Financial Management Professionals Inc. purchased a new stake in Cal-Maine Foods during the 1st quarter worth about $30,000. Investment Management Corp VA ADV increased 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 purchasing an additional 248 shares in the last quarter. Blue Trust Inc. increased its position in Cal-Maine Foods by 388.2% during the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock worth $56,000 after buying an additional 493 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Cal-Maine Foods in the first quarter valued at $77,000. Finally, Harbor Capital Advisors Inc. grew its position in shares of Cal-Maine Foods by 126.0% in the first quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 513 shares during the period. Institutional investors and hedge funds own 84.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CALM shares. Stephens boosted their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Wall Street Zen lowered Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, BMO Capital Markets increased their price objective on Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th.

Cal-Maine Foods Trading Down 2.9%

Shares of Cal-Maine Foods stock traded down $3.26 during midday trading on Friday, reaching $107.88. The company had a trading volume of 926,680 shares, compared to its average volume of 1,016,194. The stock has a fifty day simple moving average of $101.30 and a 200 day simple moving average of $97.97. Cal-Maine Foods, Inc. has a 1-year low of $67.40 and a 1-year high of $126.40. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 4.32 and a beta of 0.19.

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

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.