Janney Montgomery Scott LLC Lowers Stock Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Janney Montgomery Scott LLC lessened its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 50.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,832 shares of the basic materials company's stock after selling 2,913 shares during the quarter. Janney Montgomery Scott LLC's holdings in Cal-Maine Foods were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in Cal-Maine Foods in the 1st quarter valued at approximately $30,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Cal-Maine Foods during the 1st quarter worth approximately $77,000. Harbor Capital Advisors Inc. boosted its stake in shares of Cal-Maine Foods by 126.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock worth $84,000 after acquiring an additional 513 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Cal-Maine Foods by 339.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,032 shares of the basic materials company's stock worth $105,000 after acquiring an additional 797 shares in the last quarter. Finally, NBC Securities Inc. boosted its stake in shares of Cal-Maine Foods by 139,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,400 shares of the basic materials company's stock worth $127,000 after acquiring an additional 1,399 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company's stock.

Wall Street Analysts Forecast Growth

CALM has been the topic of several research analyst reports. BMO Capital Markets raised Cal-Maine Foods to a "hold" rating in a research note on Tuesday, May 6th. Wall Street Zen raised Cal-Maine Foods from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Stephens reissued an "equal weight" rating and set a $97.00 price target on shares of Cal-Maine Foods in a research note on Wednesday, April 23rd.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $102.00 on Friday. Cal-Maine Foods, Inc. has a 1 year low of $62.35 and a 1 year high of $116.41. The company has a market capitalization of $5.00 billion, a P/E ratio of 5.04 and a beta of 0.17. The business has a 50 day moving average price of $96.99 and a 200 day moving average price of $97.69.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 8th. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.79 by $4.59. Cal-Maine Foods had a return on equity of 48.72% and a net margin of 26.08%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $953.76 million. During the same period in the previous year, the firm posted $3.00 EPS. The company's quarterly revenue was up 101.6% compared to the same quarter last year. As a group, research analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Insider Activity

In other Cal-Maine Foods news, insider Adolphus B. Baker sold 1,287,616 shares of the business's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $90.60, for a total value of $116,658,009.60. Following the completion of the transaction, the insider directly owned 1,702,853 shares in the company, valued at approximately $154,278,481.80. The trade was a 43.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 13.45% of the stock is owned by corporate insiders.

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.

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