Fox Run Management L.L.C. Grows Stock Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• Fox Run Management L.L.C. significantly increased its holdings in Cal-Maine Foods by 462.4%, acquiring an additional 14,497 shares to reach a total of 17,632 shares, which are valued at approximately $1.6 million.
• Several other hedge funds have also modified their investments in Cal-Maine Foods, with notable increases in positions from Wells Fargo, Envestnet, and Russell Investments.
• Cal-Maine Foods reported a strong quarterly performance with earnings of $7.04 per share, exceeding estimates and demonstrating a 72.1% increase in revenue year-over-year.

Fox Run Management L.L.C. raised its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 462.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,632 shares of the basic materials company's stock after buying an additional 14,497 shares during the quarter. Fox Run Management L.L.C.'s holdings in Cal-Maine Foods were worth $1,603,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Man Group plc raised its position in shares of Cal-Maine Foods by 258.7% during the fourth quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock worth $59,973,000 after acquiring an additional 420,247 shares during the last quarter. Millennium Management LLC grew its stake in Cal-Maine Foods by 515.1% in the fourth quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company's stock valued at $49,142,000 after acquiring an additional 399,848 shares during the period. Nuveen LLC purchased a new position in shares of Cal-Maine Foods during the first quarter valued at approximately $35,322,000. Jupiter Asset Management Ltd. boosted its position in shares of Cal-Maine Foods by 336.5% during the first quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company's stock valued at $44,288,000 after buying an additional 375,604 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Cal-Maine Foods by 60.2% during the fourth quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock valued at $69,403,000 after buying an additional 253,310 shares during the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CALM. The Goldman Sachs Group initiated coverage on Cal-Maine Foods in a research note on Thursday. They issued a "neutral" rating and a $110.00 target price on the stock. Stephens upped their price target 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 increased their target price on 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 downgraded Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th.

Cal-Maine Foods Stock Up 2.5%

NASDAQ CALM traded up $2.66 during trading hours on Friday, hitting $110.65. 1,086,131 shares of the company were exchanged, compared to its average volume of 1,094,971. The stock has a 50-day moving average price of $103.56 and a 200 day moving average price of $97.55. Cal-Maine Foods, Inc. has a 52 week low of $68.22 and a 52 week high of $126.40. The stock has a market cap of $5.43 billion, a PE ratio of 4.43 and a beta of 0.19.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share (EPS) 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 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 quarterly revenue was up 72.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.32 earnings per share. As a group, sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current 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.