Tower Research Capital LLC TRC Has $613,000 Holdings in Cal-Maine Foods Inc (CALM)
Tower Research Capital LLC TRC raised its stake in Cal-Maine Foods Inc (NASDAQ:CALM) by 196.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,368 shares of the basic materials company’s stock after buying an additional 8,860 shares during the period. Tower Research Capital LLC TRC’s holdings in Cal-Maine Foods were worth $613,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CALM. SG Americas Securities LLC bought a new stake in shares of Cal-Maine Foods in the 1st quarter valued at about $140,000. NumerixS Investment Technologies Inc acquired a new position in shares of Cal-Maine Foods in the 2nd quarter valued at about $190,000. Amalgamated Bank acquired a new position in shares of Cal-Maine Foods in the 2nd quarter valued at about $219,000. Sciencast Management LP acquired a new position in shares of Cal-Maine Foods in the 1st quarter valued at about $222,000. Finally, Stevens Capital Management LP acquired a new position in shares of Cal-Maine Foods in the 1st quarter valued at about $222,000. Hedge funds and other institutional investors own 59.31% of the company’s stock.
In related news, major shareholder Jean Morris Adams sold 40,149 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $44.95, for a total transaction of $1,804,697.55. Following the transaction, the insider now directly owns 1,074,895 shares of the company’s stock, valued at approximately $48,316,530.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 225,000 shares of company stock worth $10,027,482. 33.03% of the stock is owned by company insiders.
Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Monday, July 23rd. The basic materials company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.01. Cal-Maine Foods had a return on equity of 16.48% and a net margin of 8.38%. The business had revenue of $443.10 million for the quarter, compared to the consensus estimate of $445.00 million. During the same period in the prior year, the business earned ($0.51) EPS. The firm’s revenue for the quarter was up 61.4% on a year-over-year basis. sell-side analysts predict that Cal-Maine Foods Inc will post 3.35 earnings per share for the current fiscal year.
CALM has been the topic of a number of recent analyst reports. BidaskClub raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. ValuEngine raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Finally, Zacks Investment Research downgraded Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.50.
About Cal-Maine Foods
Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.
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