Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New Investment 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 bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,693 shares of the basic materials company's stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CALM. Financial Management Professionals Inc. acquired a new stake in Cal-Maine Foods in the 1st quarter worth about $30,000. Investment Management Corp VA ADV increased its holdings in shares of Cal-Maine Foods by 172.2% during the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock worth $36,000 after purchasing an additional 248 shares during the period. Blue Trust Inc. raised its position in shares of Cal-Maine Foods by 388.2% in the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after buying an additional 493 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Cal-Maine Foods in the first quarter valued at approximately $77,000. Finally, Harbor Capital Advisors Inc. grew its position 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 buying an additional 513 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CALM shares. Stephens upped 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, July 24th. BMO Capital Markets upped their price objective on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen lowered shares of Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM traded up $1.06 during mid-day trading on Thursday, hitting $105.51. 339,423 shares of the stock traded hands, compared to its average volume of 980,669. Cal-Maine Foods, Inc. has a twelve month low of $68.22 and a twelve month high of $126.40. The firm has a 50 day simple moving average of $101.88 and a two-hundred day simple moving average of $97.80. The company has a market cap of $5.17 billion, a PE ratio of 4.23 and a beta of 0.19.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share for the quarter, topping the consensus estimate of $5.29 by $1.75. The company 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%. Cal-Maine Foods's revenue for the quarter was up 72.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.32 earnings per share. On average, equities research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal 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.