Cal-Maine Foods, Inc. (NASDAQ:CALM) Shares Bought by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. increased its stake in Cal-Maine Foods by 31.9%, now owning 24,834 shares valued at $2.3 million.
• Several institutional investors have modified their holdings in Cal-Maine Foods, with a total of 84.67% of the company’s stock owned by hedge funds and institutions.
• Cal-Maine Foods reported a 72.1% increase in revenue year-over-year, with a quarterly EPS of $7.04, significantly exceeding analysts' expectations.

Navellier & Associates Inc. lifted its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 31.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,834 shares of the basic materials company's stock after purchasing an additional 6,002 shares during the quarter. Navellier & Associates Inc. owned about 0.05% of Cal-Maine Foods worth $2,305,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Management Professionals Inc. purchased a new position in Cal-Maine Foods during the 1st quarter valued at $30,000. Blue Trust Inc. boosted its holdings in Cal-Maine Foods by 388.2% during the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after acquiring an additional 493 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Cal-Maine Foods during the 1st quarter valued at $77,000. Harbor Capital Advisors Inc. boosted its holdings in Cal-Maine Foods by 126.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock valued at $84,000 after acquiring an additional 513 shares during the period. Finally, Mascagni Wealth Management Inc. purchased a new position in Cal-Maine Foods during the 4th quarter valued at $144,000. Hedge funds and other institutional investors own 84.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CALM. BMO Capital Markets boosted their price objective on Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a report on Thursday. Wall Street Zen raised Cal-Maine Foods from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. Finally, Stephens lifted their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a research report on Thursday.

Cal-Maine Foods Stock Performance

NASDAQ CALM traded down $0.96 on Friday, reaching $104.92. 1,319,961 shares of the stock traded hands, compared to its average volume of 971,555. The company has a fifty day moving average price of $100.06 and a 200-day moving average price of $97.87. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 4.21 and a beta of 0.17. Cal-Maine Foods, Inc. has a 12 month low of $67.40 and a 12 month high of $126.40.

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