Empower Advisory Group LLC Raises Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• Empower Advisory Group LLC has increased its stake in Cal-Maine Foods by 200% during the first quarter, now owning 6,864 shares valued at approximately $624,000.
• Cal-Maine Foods reported $7.04 EPS for the latest quarter, surpassing analysts' expectations of $5.29, with a revenue of $1.10 billion that represented a 72.1% increase year-over-year.
• Institutional investors hold 84.67% of Cal-Maine Foods' stock, indicating strong institutional interest in the company.

Empower Advisory Group LLC lifted its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 200.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,864 shares of the basic materials company's stock after purchasing an additional 4,576 shares during the quarter. Empower Advisory Group LLC's holdings in Cal-Maine Foods were worth $624,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CALM. Evergreen Capital Management LLC increased its holdings in shares of Cal-Maine Foods by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 5,755 shares of the basic materials company's stock valued at $592,000 after purchasing an additional 97 shares during the period. Two Sigma Securities LLC increased its holdings in shares of Cal-Maine Foods by 2.8% during the fourth quarter. Two Sigma Securities LLC now owns 3,894 shares of the basic materials company's stock valued at $401,000 after purchasing an additional 106 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of Cal-Maine Foods by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,290 shares of the basic materials company's stock valued at $442,000 after purchasing an additional 136 shares during the period. Captrust Financial Advisors increased its holdings in shares of Cal-Maine Foods by 0.3% during the fourth quarter. Captrust Financial Advisors now owns 55,892 shares of the basic materials company's stock valued at $5,752,000 after purchasing an additional 163 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Cal-Maine Foods by 8.2% during the first quarter. Sequoia Financial Advisors LLC now owns 2,511 shares of the basic materials company's stock valued at $228,000 after purchasing an additional 191 shares during the period. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Stock Down 0.6%

NASDAQ:CALM opened at $104.45 on Thursday. The business's 50-day moving average price is $101.88 and its 200 day moving average price is $97.80. The firm has a market cap of $5.12 billion, a P/E ratio of 4.19 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 released its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.29 by $1.75. The firm had revenue of $1.10 billion for 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%. Cal-Maine Foods's revenue was up 72.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.32 earnings per share. Sell-side analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Wall Street Analysts Forecast Growth

CALM has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Stephens lifted their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Finally, Wall Street Zen lowered Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th.

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.

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