Entropy Technologies LP Invests $304,000 in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• Entropy Technologies LP has acquired a new position in Cal-Maine Foods, Inc., purchasing 3,344 shares valued at approximately $304,000 in the first quarter.
• Cal-Maine Foods reported quarterly earnings of $7.04 per share, surpassing estimates by $1.75, with revenue of $1.10 billion—an increase of 72.1% year-over-year.
• Analysts have mixed ratings for Cal-Maine Foods, with price targets ranging from $100 to $115, reflecting varied expectations for the company’s stock performance.

Entropy Technologies LP purchased a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,344 shares of the basic materials company's stock, valued at approximately $304,000.

Other hedge funds also recently modified their holdings of the company. Financial Management Professionals Inc. acquired a new stake in shares of Cal-Maine Foods during the first quarter worth about $30,000. Investment Management Corp VA ADV raised its position in Cal-Maine Foods by 172.2% in the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock valued at $36,000 after buying an additional 248 shares during the last quarter. Blue Trust Inc. raised its position in Cal-Maine Foods by 388.2% in the 1st 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 during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Cal-Maine Foods in the 1st quarter valued at approximately $77,000. Finally, Harbor Capital Advisors Inc. raised its position in Cal-Maine Foods by 126.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock valued at $84,000 after buying an additional 513 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company's stock.

Cal-Maine Foods Price Performance

CALM stock traded up $2.66 during mid-day trading on Friday, reaching $110.65. The company had a trading volume of 1,086,131 shares, compared to its average volume of 1,094,971. The stock has a 50 day simple moving average of $103.56 and a two-hundred day simple moving average of $97.55. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 4.43 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 posted its quarterly earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share for the quarter, beating analysts' consensus estimates of $5.29 by $1.75. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate 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 was up 72.1% compared to the same quarter last year. During the same period last year, the company earned $2.32 earnings per share. On average, equities analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Analyst Ratings Changes

CALM has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Cal-Maine Foods in a research report on Thursday. They issued a "neutral" rating and a $110.00 target price on the stock. Wall Street Zen lowered Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. 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, July 24th. Finally, BMO Capital Markets lifted their target price on Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th.

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.