Hartree Partners LP Buys New Position in Cal-Maine Foods, Inc. $CALM

Key Points

• Hartree Partners LP has acquired a new stake in Cal-Maine Foods, purchasing 10,000 shares valued at approximately $909,000.
• Cal-Maine Foods reported a significant earnings beat with $7.04 EPS for the quarter, greatly exceeding analysts' expectations of $5.29, and showed a 72.1% increase in revenue year-over-year.
• As of the latest analysis, the stock has a consensus rating of "Hold" with a target price of $110.00, following recent upgrades and downgrades from several analysts.

Hartree Partners LP bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,000 shares of the basic materials company's stock, valued at approximately $909,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CALM. Financial Management Professionals Inc. acquired a new stake in shares of Cal-Maine Foods during the first quarter worth $30,000. Investment Management Corp VA ADV raised its stake 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 purchasing an additional 248 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Cal-Maine Foods in the first quarter valued at about $52,000. Blue Trust Inc. raised its stake in 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 purchasing an additional 493 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in Cal-Maine Foods in the first quarter valued at about $77,000. Institutional investors and hedge funds own 84.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. BMO Capital Markets boosted their price target on 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. Wall Street Zen downgraded Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday. 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. Finally, The Goldman Sachs Group assumed coverage on Cal-Maine Foods in a research note on Thursday, August 14th. They issued a "neutral" rating and a $110.00 price target for the company. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $110.00.

Cal-Maine Foods Trading Up 1.6%

Cal-Maine Foods stock traded up $1.81 during midday trading on Wednesday, reaching $116.80. The company's stock had a trading volume of 493,492 shares, compared to its average volume of 959,002. The stock has a market cap of $5.73 billion, a PE ratio of 4.68 and a beta of 0.19. The business has a 50-day moving average price of $105.85 and a 200-day moving average price of $97.77. 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 quarterly earnings results 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 return on equity of 54.81% and a net margin of 28.63%.The business's quarterly revenue was up 72.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.32 earnings per share. As a group, research analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal 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.