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 trimmed its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 77.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,726 shares of the basic materials company's stock after selling 9,207 shares during the quarter. 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 also recently added to or reduced their stakes in CALM. Man Group plc grew its position in Cal-Maine Foods by 258.7% during the fourth quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock valued at $59,973,000 after buying an additional 420,247 shares during the period. Millennium Management LLC grew its position in Cal-Maine Foods by 515.1% during the fourth quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company's stock valued at $49,142,000 after buying an additional 399,848 shares during the period. Northern Trust Corp lifted its holdings in Cal-Maine Foods by 60.2% during the fourth quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock valued at $69,403,000 after purchasing an additional 253,310 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Cal-Maine Foods by 11,328.9% during the first quarter. GAMMA Investing LLC now owns 156,348 shares of the basic materials company's stock valued at $14,212,000 after purchasing an additional 154,980 shares in the last quarter. Finally, Burney Co. purchased a new position in Cal-Maine Foods during the first quarter valued at approximately $11,042,000. 84.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in 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 report on Thursday, July 24th. Wall Street Zen downgraded shares of Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, 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 report on Thursday, July 24th.

Cal-Maine Foods Stock Performance

Shares of Cal-Maine Foods stock traded down $0.48 on Monday, hitting $105.05. 301,908 shares of the company traded hands, compared to its average volume of 981,062. The stock has a market capitalization of $5.15 billion, a P/E ratio of 4.22 and a beta of 0.19. Cal-Maine Foods, Inc. has a 52 week low of $67.40 and a 52 week high of $126.40. The business has a 50-day simple moving average of $101.30 and a 200 day simple moving average of $97.77.

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

Cal-Maine Foods 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.