Empirical Financial Services LLC d.b.a. Empirical Wealth Management Invests $245,000 in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• Empirical Financial Services LLC has acquired a new position in Cal-Maine Foods, purchasing 2,693 shares valued at approximately $245,000 in the first quarter of the year.
• Cal-Maine Foods stock fell by 4.0% recently, trading at $103.61, while the company's market cap stands at $5.08 billion and has a PE ratio of 4.15.
• The company reported quarterly earnings of $7.04 per share, exceeding analysts' expectations significantly, and indicated a strong year-over-year revenue growth of 72.1%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,693 shares of the basic materials company's stock, valued at approximately $245,000.

Several other hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. bought a new position in shares of Cal-Maine Foods in the 1st quarter valued at $30,000. Investment Management Corp VA ADV boosted its holdings in Cal-Maine Foods by 172.2% in the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 248 shares during the last quarter. Blue Trust Inc. grew 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 worth $56,000 after acquiring an additional 493 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of Cal-Maine Foods in the 1st quarter valued at about $77,000. Finally, Harbor Capital Advisors Inc. grew its stake in Cal-Maine Foods by 126.0% during the first quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock worth $84,000 after purchasing an additional 513 shares during the period. 84.67% of the stock is owned by institutional investors.

Cal-Maine Foods Stock Up 1.4%

NASDAQ:CALM traded up $1.42 during trading hours on Tuesday, hitting $105.03. 860,192 shares of the company's stock traded hands, compared to its average volume of 1,090,348. The business's fifty day simple moving average is $101.47 and its two-hundred day simple moving average is $97.70. The firm has a market cap of $5.15 billion, a P/E ratio of 4.21 and a beta of 0.19. Cal-Maine Foods, Inc. has a 52 week low of $68.22 and a 52 week high of $126.40.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Stephens boosted their price target on Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. BMO Capital Markets increased their price objective on shares of 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. Finally, Wall Street Zen downgraded Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th.

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.