Cal-Maine Foods, Inc. $CALM Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 336,100 shares of the basic materials company’s stock after selling 10,700 shares during the quarter. Hennessy Advisors Inc.’s holdings in Cal-Maine Foods were worth $22,875,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CALM. Dimensional Fund Advisors LP lifted its position in shares of Cal-Maine Foods by 13.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,519,483 shares of the basic materials company’s stock worth $199,416,000 after buying an additional 300,910 shares during the period. First Trust Advisors LP grew its holdings in shares of Cal-Maine Foods by 29.7% in the 1st quarter. First Trust Advisors LP now owns 1,552,297 shares of the basic materials company’s stock worth $122,864,000 after purchasing an additional 355,762 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Cal-Maine Foods during the 2nd quarter worth about $57,894,000. Bank of America Corp DE increased its position in shares of Cal-Maine Foods by 21.9% during the 1st quarter. Bank of America Corp DE now owns 505,359 shares of the basic materials company’s stock worth $39,999,000 after purchasing an additional 90,779 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Cal-Maine Foods by 68.8% during the 1st quarter. Janus Henderson Group PLC now owns 353,751 shares of the basic materials company’s stock valued at $27,997,000 after purchasing an additional 144,140 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Wall Street Analyst Weigh In

CALM has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $60.00 price objective on Cal-Maine Foods in a research note on Thursday, October 1st. BMO Capital Markets restated a “market perform” rating on shares of Cal-Maine Foods in a research report on Tuesday, October 27th. Weiss Ratings reissued a “hold (c-)” rating on shares of Cal-Maine Foods in a research note on Wednesday, October 21st. Raymond James Financial cut shares of Cal-Maine Foods to an “outperform” rating in a research note on Thursday, October 1st. Finally, Wall Street Zen cut shares of Cal-Maine Foods from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 26th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $84.17.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $63.56 on Monday. The company has a market cap of $2.97 billion, a P/E ratio of 54.32 and a beta of 0.28. Cal-Maine Foods, Inc. has a twelve month low of $60.13 and a twelve month high of $95.25. The business has a 50 day moving average price of $69.95 and a two-hundred day moving average price of $78.42.

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

Cal-Maine Foods 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.