Eldred Rock Partners LLC Has $10.67 Million Stock Holdings in Cal-Maine Foods, Inc. $CALM

Eldred Rock Partners LLC grew its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 6.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,449 shares of the basic materials company’s stock after acquiring an additional 8,482 shares during the period. Cal-Maine Foods accounts for approximately 2.3% of Eldred Rock Partners LLC’s holdings, making the stock its 25th largest position. Eldred Rock Partners LLC owned about 0.28% of Cal-Maine Foods worth $10,670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assetmark Inc. lifted its position in shares of Cal-Maine Foods by 36.6% in the fourth quarter. Assetmark Inc. now owns 118,773 shares of the basic materials company’s stock worth $9,451,000 after buying an additional 31,826 shares during the last quarter. UBS Group AG lifted its holdings in Cal-Maine Foods by 17.3% in the 4th quarter. UBS Group AG now owns 405,459 shares of the basic materials company’s stock worth $32,262,000 after purchasing an additional 59,659 shares during the last quarter. Directional Asset Management acquired a new stake in Cal-Maine Foods in the 4th quarter worth approximately $1,094,000. BCS Private Wealth Management Inc. bought a new stake in Cal-Maine Foods during the fourth quarter worth approximately $1,116,000. Finally, Fifth Third Bancorp boosted its position in Cal-Maine Foods by 11,570.6% during the first quarter. Fifth Third Bancorp now owns 46,799 shares of the basic materials company’s stock worth $3,704,000 after purchasing an additional 46,398 shares during the period. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Stock Up 0.3%

Shares of NASDAQ:CALM opened at $85.08 on Friday. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 12.99 and a beta of 0.25. The business has a 50 day moving average price of $82.75 and a 200 day moving average price of $81.32. Cal-Maine Foods, Inc. has a twelve month low of $71.92 and a twelve month high of $117.45.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.84). Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The business had revenue of $552.58 million during the quarter, compared to the consensus estimate of $563.83 million. During the same period in the prior year, the firm earned $7.04 earnings per share. The business’s quarterly revenue was down 49.9% on a year-over-year basis.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the company a “market perform” rating in a research report on Thursday, July 23rd. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Monday, July 13th. Royal Bank Of Canada set a $100.00 target price on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Wall Street Zen downgraded shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, Stephens cut their target price on shares of Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 14th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $94.71.

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.