Algert Global LLC Grows Stock Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Algert Global LLC grew its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 140.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,026 shares of the basic materials company's stock after purchasing an additional 49,013 shares during the period. Algert Global LLC owned approximately 0.17% of Cal-Maine Foods worth $6,289,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in Cal-Maine Foods during the 3rd quarter valued at about $29,000. Hantz Financial Services Inc. purchased a new position in shares of Cal-Maine Foods in the second quarter valued at approximately $25,000. Hexagon Capital Partners LLC grew its holdings in shares of Cal-Maine Foods by 57.0% in the third quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 155 shares in the last quarter. Krane Funds Advisors LLC acquired a new position in shares of Cal-Maine Foods in the third quarter valued at approximately $33,000. Finally, Quarry LP increased its stake in Cal-Maine Foods by 1,975.0% during the 2nd quarter. Quarry LP now owns 581 shares of the basic materials company's stock worth $36,000 after buying an additional 553 shares during the period. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CALM has been the subject of several research reports. StockNews.com downgraded shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday. Stephens initiated coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They set an "equal weight" rating and a $82.00 target price for the company.

Cal-Maine Foods Stock Performance

Shares of NASDAQ:CALM traded up $0.18 during trading hours on Friday, reaching $95.96. The stock had a trading volume of 379,987 shares, compared to its average volume of 421,380. Cal-Maine Foods, Inc. has a 1 year low of $46.30 and a 1 year high of $96.63. The firm's 50 day moving average is $86.02 and its 200-day moving average is $72.10. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 10.99 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $785.87 million for the quarter, compared to analyst estimates of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The company's revenue was up 71.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 earnings per share. Analysts forecast that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Cal-Maine Foods 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.