9,598 Cal-Maine Foods, Inc. $CALM Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 56.4% during the third quarter, HoldingsChannel.com reports. The firm owned 7,409 shares of the basic materials company’s stock after selling 9,598 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cal-Maine Foods were worth $504,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. CoreCap Advisors LLC increased its holdings in shares of Cal-Maine Foods by 13.5% during the second quarter. CoreCap Advisors LLC now owns 1,153 shares of the basic materials company’s stock worth $93,000 after purchasing an additional 137 shares during the period. DGS Capital Management LLC boosted its stake in shares of Cal-Maine Foods by 6.7% in the first quarter. DGS Capital Management LLC now owns 2,932 shares of the basic materials company’s stock valued at $232,000 after buying an additional 183 shares during the period. Stegent Equity Advisors Inc. boosted its stake in shares of Cal-Maine Foods by 4.0% in the first quarter. Stegent Equity Advisors Inc. now owns 5,279 shares of the basic materials company’s stock valued at $418,000 after buying an additional 202 shares during the period. Navellier & Associates Inc. boosted its stake in shares of Cal-Maine Foods by 0.7% in the second quarter. Navellier & Associates Inc. now owns 33,262 shares of the basic materials company’s stock valued at $2,680,000 after buying an additional 229 shares during the period. Finally, Private Advisor Group LLC grew its position in Cal-Maine Foods by 4.2% during the first quarter. Private Advisor Group LLC now owns 6,215 shares of the basic materials company’s stock worth $492,000 after buying an additional 250 shares in the last quarter. 84.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Stephens reduced their price target on Cal-Maine Foods from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 1st. The Goldman Sachs Group set a $60.00 price objective on Cal-Maine Foods in a report on Thursday, October 1st. Benchmark downgraded Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 4th. Wells Fargo & Company set a $100.00 target price on Cal-Maine Foods in a research report on Monday, July 13th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $75.00 target price (down from $83.00) on shares of Cal-Maine Foods in a report on Thursday, September 24th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cal-Maine Foods currently has an average rating of “Hold” and an average price target of $84.17.

Cal-Maine Foods Stock Down 1.9%

CALM stock opened at $62.60 on Friday. Cal-Maine Foods, Inc. has a 12 month low of $60.13 and a 12 month high of $95.25. The firm has a market cap of $2.92 billion, a P/E ratio of 53.50 and a beta of 0.25. The company’s 50-day moving average price is $71.70 and its two-hundred day moving average price is $77.27.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Wednesday, September 30th. The basic materials company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.49). Cal-Maine Foods had a return on equity of 2.21% and a net margin of 2.32%. The firm had revenue of $539.61 million for the quarter, compared to the consensus estimate of $561.57 million. During the same period last year, the company posted $4.12 EPS. The business’s revenue was down 41.5% on a year-over-year basis.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc (NASDAQ: CALM) is a major producer and distributor of shell eggs in the United States. The company supplies eggs to grocery retailers, foodservice distributors, restaurants, food processors and institutional customers.

Its product portfolio includes conventional shell eggs as well as specialty products such as cage-free, organic, free-range, nutritionally enhanced and omega-3 eggs. Cal-Maine also markets hard-cooked eggs and other value-added egg products through its brands and customer relationships.

Founded in 1969 and headquartered in Jackson, Mississippi, Cal-Maine operates egg production, processing, packaging and distribution facilities in multiple U.S.