Independent Financial Group LLC Takes $1.19 Million Position in Cal-Maine Foods, Inc. $CALM

Independent Financial Group LLC purchased a new position in Cal-Maine Foods, Inc. (NASDAQ:CALM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,089 shares of the basic materials company’s stock, valued at approximately $1,194,000.

Other hedge funds have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cal-Maine Foods by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company’s stock worth $2,218,000 after purchasing an additional 1,057 shares during the last quarter. NewEdge Advisors LLC raised its stake in Cal-Maine Foods by 100.8% during the 1st quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company’s stock valued at $726,000 after buying an additional 4,009 shares during the last quarter. United Services Automobile Association purchased a new stake in Cal-Maine Foods during the 1st quarter valued at $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Cal-Maine Foods by 10.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company’s stock valued at $7,765,000 after buying an additional 7,736 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Cal-Maine Foods by 323.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,087 shares of the basic materials company’s stock valued at $108,000 after buying an additional 830 shares during the period. 84.67% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Price Performance

CALM opened at $88.42 on Tuesday. The company has a 50 day simple moving average of $79.76 and a two-hundred day simple moving average of $80.24. The firm has a market cap of $4.19 billion, a P/E ratio of 6.16 and a beta of 0.25. Cal-Maine Foods, Inc. has a 1-year low of $71.92 and a 1-year high of $126.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. Wells Fargo & Company set a $100.00 price objective on Cal-Maine Foods in a research report on Monday, July 13th. Royal Bank Of Canada set a $100.00 target price on Cal-Maine Foods in a report on Tuesday, May 26th. BMO Capital Markets dropped their target price on Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 25th. Finally, Stephens cut their price target on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $94.29.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.