Concert Wealth Management Inc. cut its stake in Cal-Maine Foods Inc. (NASDAQ:CALM) by 5.7% during the second quarter, Holdings Channel reports. The firm owned 11,980 shares of the company’s stock after selling 722 shares during the period. Concert Wealth Management Inc.’s holdings in Cal-Maine Foods were worth $526,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aviance Capital Management LLC boosted its position in shares of Cal-Maine Foods by 0.7% in the second quarter. Aviance Capital Management LLC now owns 6,410 shares of the company’s stock valued at $284,000 after buying an additional 42 shares during the period. Adams Diversified Equity Fund Inc. purchased a new position in shares of Cal-Maine Foods during the second quarter valued at about $288,000. Huntington Asset Advisors Inc. purchased a new position in shares of Cal-Maine Foods during the first quarter valued at about $311,000. Fox Run Management L.L.C. purchased a new position in shares of Cal-Maine Foods during the second quarter valued at about $328,000. Finally, HBK Investments L P purchased a new position in shares of Cal-Maine Foods during the first quarter valued at about $351,000. 63.77% of the stock is currently owned by institutional investors.
Shares of Cal-Maine Foods Inc. (NASDAQ:CALM) traded down 0.28% during mid-day trading on Wednesday, hitting $38.54. The stock had a trading volume of 177,049 shares. The firm has a market cap of $1.87 billion, a PE ratio of 13.12 and a beta of 0.75. Cal-Maine Foods Inc. has a 12 month low of $37.11 and a 12 month high of $63.25. The stock’s 50-day moving average is $42.18 and its 200 day moving average is $44.99.
Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Monday, September 26th. The company reported ($0.64) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.31. The firm had revenue of $239.80 million for the quarter. Cal-Maine Foods had a net margin of 9.23% and a return on equity of 15.81%. The business’s revenue for the quarter was down 60.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. Equities research analysts predict that Cal-Maine Foods Inc. will post $0.37 earnings per share for the current fiscal year.
CALM has been the topic of several research analyst reports. Zacks Investment Research raised Cal-Maine Foods from a “strong sell” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Monday, August 15th. Vetr cut Cal-Maine Foods from a “strong-buy” rating to a “buy” rating and set a $46.33 target price on the stock. in a research report on Wednesday, August 3rd. BB&T Corp. raised Cal-Maine Foods from an “underweight” rating to a “hold” rating in a research report on Thursday, June 16th. Finally, TheStreet cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Monday, September 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.44.
About Cal-Maine Foods
Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.