NewEdge Advisors LLC Cuts Stock Holdings in Cal-Maine Foods, Inc. $CALM

NewEdge Advisors LLC lowered its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 83.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,100 shares of the basic materials company’s stock after selling 20,596 shares during the quarter. NewEdge Advisors LLC’s holdings in Cal-Maine Foods were worth $325,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cal-Maine Foods by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company’s stock valued at $2,218,000 after buying an additional 1,057 shares during the period. United Services Automobile Association purchased a new stake in Cal-Maine Foods during the first quarter worth $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Cal-Maine Foods by 10.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company’s stock worth $7,765,000 after buying an additional 7,736 shares during the period. EverSource Wealth Advisors LLC boosted its position in Cal-Maine Foods by 323.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,087 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 830 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in Cal-Maine Foods by 4.6% during the 2nd quarter. Guggenheim Capital LLC now owns 8,652 shares of the basic materials company’s stock valued at $862,000 after acquiring an additional 383 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CALM shares. Stephens cut their price target on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 14th. Wall Street Zen cut Cal-Maine Foods from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Royal Bank Of Canada set a $100.00 price objective on Cal-Maine Foods in a research report on Tuesday, May 26th. Weiss Ratings lowered Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Finally, Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Cal-Maine Foods currently has a consensus rating of “Hold” and a consensus price target of $94.71.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $82.80 on Monday. The firm has a market capitalization of $3.88 billion, a P/E ratio of 12.64 and a beta of 0.25. The company has a 50 day moving average price of $83.78 and a 200 day moving average price of $81.35. Cal-Maine Foods, Inc. has a 52 week low of $71.92 and a 52 week high of $117.45.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.84). The company had revenue of $552.58 million during the quarter, compared to analyst estimates of $563.83 million. Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The firm’s revenue for the quarter was down 49.9% on a year-over-year basis. During the same quarter last year, the business earned $7.04 earnings per share.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.