Cal-Maine Foods, Inc. (NASDAQ:CALM) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its holdings in Cal-Maine Foods, cutting its stake by 64.9% during the first quarter, now owning 426,425 shares worth approximately $38.76 million.
• Wall Street analysts are optimistic about Cal-Maine Foods, with Stephens raising its price target from $108 to $115 and BMO Capital Markets lifting their price objective from $100 to $105.
• Cal-Maine Foods reported a 72.1% year-over-year increase in revenue for the last quarter, totaling $1.10 billion and exceeding analyst expectations.

Pacer Advisors Inc. cut its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 64.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 426,425 shares of the basic materials company's stock after selling 790,125 shares during the quarter. Pacer Advisors Inc. owned approximately 0.87% of Cal-Maine Foods worth $38,762,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CALM. Man Group plc lifted its stake in Cal-Maine Foods by 258.7% in the fourth quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock worth $59,973,000 after acquiring an additional 420,247 shares during the period. Millennium Management LLC boosted its stake in shares of 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 acquiring an additional 399,848 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Cal-Maine Foods by 60.2% during the 4th quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock valued at $69,403,000 after buying an additional 253,310 shares during the period. GAMMA Investing LLC increased its holdings in Cal-Maine Foods by 11,328.9% during the 1st quarter. GAMMA Investing LLC now owns 156,348 shares of the basic materials company's stock worth $14,212,000 after purchasing an additional 154,980 shares during the last quarter. Finally, Burney Co. bought a new stake in shares of Cal-Maine Foods in the 1st quarter worth $11,042,000. Hedge funds and other institutional investors own 84.67% of the company's stock.

Analyst Ratings Changes

CALM has been the topic of several recent research reports. BMO Capital Markets lifted their price target on Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" 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 research report on Saturday. Finally, Stephens raised their price target on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th.

Cal-Maine Foods Trading Up 2.6%

NASDAQ:CALM traded up $2.80 during trading hours on Wednesday, hitting $110.95. 317,739 shares of the company traded hands, compared to its average volume of 978,625. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 4.44 and a beta of 0.17. The firm has a 50-day moving average of $100.44 and a 200 day moving average of $97.86. Cal-Maine Foods, Inc. has a twelve month low of $67.40 and a twelve month high of $126.40.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its 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. Cal-Maine Foods had a return on equity of 54.81% and a net margin of 28.63%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $877.03 million. During the same period last year, the firm posted $2.32 EPS. The business's revenue was up 72.1% compared to the same quarter last year. Equities research analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

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.