Principal Financial Group Inc. Lowers Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Principal Financial Group Inc. trimmed its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 211,730 shares of the basic materials company’s stock after selling 12,574 shares during the quarter. Principal Financial Group Inc.’s holdings in Cal-Maine Foods were worth $15,846,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Axiom Advisory LLC grew its position in Cal-Maine Foods by 3.3% in the 3rd quarter. Axiom Advisory LLC now owns 4,061 shares of the basic materials company’s stock valued at $280,000 after acquiring an additional 128 shares in the last quarter. Martingale Asset Management L P grew its stake in Cal-Maine Foods by 0.4% during the 3rd quarter. Martingale Asset Management L P now owns 39,321 shares of the basic materials company’s stock worth $2,943,000 after purchasing an additional 145 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Cal-Maine Foods by 57.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 155 shares during the period. Garner Asset Management Corp raised its position in Cal-Maine Foods by 0.9% in the 2nd quarter. Garner Asset Management Corp now owns 20,252 shares of the basic materials company’s stock valued at $1,238,000 after purchasing an additional 183 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Cal-Maine Foods by 1.3% in the third quarter. Stifel Financial Corp now owns 15,049 shares of the basic materials company’s stock worth $1,126,000 after acquiring an additional 188 shares during the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Price Performance

CALM stock opened at $101.14 on Friday. Cal-Maine Foods, Inc. has a 12 month low of $53.02 and a 12 month high of $114.06. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 11.59 and a beta of -0.10. The company has a fifty day moving average price of $96.22 and a 200 day moving average price of $79.37.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.30). Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The business had revenue of $785.87 million for the quarter, compared to analyst estimates of $704.65 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 71.1% on a year-over-year basis. As a group, analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on CALM shares. StockNews.com lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. Stephens assumed coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective on the stock.

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.