Kingsview Wealth Management LLC Makes New Investment in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Kingsview Wealth Management LLC bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,519 shares of the basic materials company’s stock, valued at approximately $563,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new stake in shares of Cal-Maine Foods during the second quarter worth about $25,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Cal-Maine Foods during the third quarter worth about $29,000. Hexagon Capital Partners LLC raised its position in shares of Cal-Maine Foods by 57.0% during the third 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. Krane Funds Advisors LLC acquired a new stake in shares of Cal-Maine Foods during the third quarter worth about $33,000. Finally, Quarry LP raised its position in shares of Cal-Maine Foods by 1,975.0% during the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 553 shares during the period. Institutional investors own 84.67% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CALM shares. Stephens started coverage on Cal-Maine Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price target on the stock. StockNews.com lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, November 23rd.

Cal-Maine Foods Stock Performance

Shares of Cal-Maine Foods stock opened at $97.15 on Thursday. The business’s 50 day simple moving average is $87.07 and its 200 day simple moving average is $72.75. Cal-Maine Foods, Inc. has a 52-week low of $46.30 and a 52-week high of $99.63. The firm has a market cap of $4.76 billion, a PE ratio of 11.13 and a beta of -0.12.

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

Cal-Maine Foods Company Profile

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.