Hodges Capital Management Inc. Increases Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Hodges Capital Management Inc. increased its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 15.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,360 shares of the basic materials company's stock after buying an additional 23,526 shares during the period. Hodges Capital Management Inc. owned 0.36% of Cal-Maine Foods worth $13,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Axiom Advisory LLC lifted its stake in Cal-Maine Foods by 3.3% in the third quarter. Axiom Advisory LLC now owns 4,061 shares of the basic materials company's stock worth $280,000 after acquiring an additional 128 shares during the period. Martingale Asset Management L P lifted its stake in shares of Cal-Maine Foods by 0.4% during the 3rd quarter. Martingale Asset Management L P now owns 39,321 shares of the basic materials company's stock worth $2,943,000 after purchasing an additional 145 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in 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 valued at $32,000 after purchasing an additional 155 shares in the last quarter. Garner Asset Management Corp raised its stake in shares of Cal-Maine Foods by 0.9% during the 2nd quarter. Garner Asset Management Corp now owns 20,252 shares of the basic materials company's stock worth $1,238,000 after acquiring an additional 183 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in Cal-Maine Foods by 1.3% during the third quarter. Stifel Financial Corp now owns 15,049 shares of the basic materials company's stock valued at $1,126,000 after acquiring an additional 188 shares during the last quarter. Institutional investors own 84.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CALM. StockNews.com cut Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Saturday, November 23rd. 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 price target on the stock.

Cal-Maine Foods Stock Performance

CALM stock traded up $1.92 during midday trading on Friday, reaching $99.22. The stock had a trading volume of 447,773 shares, compared to its average volume of 406,328. The firm has a fifty day simple moving average of $90.91 and a two-hundred day simple moving average of $74.95. The stock has a market cap of $4.87 billion, a PE ratio of 11.37 and a beta of -0.10. Cal-Maine Foods, Inc. has a 52-week low of $48.22 and a 52-week high of $100.86.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 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 analysts' expectations of $704.65 million. During the same quarter in the prior year, the company earned $0.02 EPS. Cal-Maine Foods's quarterly revenue was up 71.1% on a year-over-year basis. On average, sell-side analysts predict that Cal-Maine Foods, Inc. will post 8.54 EPS for the current fiscal year.

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.