Cal-Maine Foods, Inc. (NASDAQ:CALM) Short Interest Up 44.7% in October

Cal-Maine Foods, Inc. (NASDAQ:CALM - Get Free Report) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 2,880,000 shares, a growth of 44.7% from the September 30th total of 1,990,000 shares. Currently, 7.1% of the company's stock are sold short. Based on an average daily trading volume, of 568,000 shares, the days-to-cover ratio is presently 5.1 days.

Insider Buying and Selling at Cal-Maine Foods

In other news, VP Robert L. Holladay, Jr. sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the sale, the vice president now directly owns 16,754 shares in the company, valued at approximately $1,188,361.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Michael Todd Walters sold 3,000 shares of the company's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total transaction of $210,600.00. Following the completion of the transaction, the chief operating officer now directly owns 5,310 shares in the company, valued at $372,762. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert L. Holladay, Jr. sold 1,500 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $70.93, for a total value of $106,395.00. Following the completion of the sale, the vice president now directly owns 16,754 shares in the company, valued at $1,188,361.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in shares of Cal-Maine Foods in the 2nd quarter valued at approximately $25,000. Hexagon Capital Partners LLC lifted 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 stake in shares of Cal-Maine Foods in the third quarter worth $33,000. Quarry LP grew its holdings in shares of Cal-Maine Foods by 1,975.0% during the second quarter. Quarry LP now owns 581 shares of the basic materials company's stock valued at $36,000 after buying an additional 553 shares in the last quarter. Finally, CWM LLC raised its position in Cal-Maine Foods by 120.1% during the second quarter. CWM LLC now owns 625 shares of the basic materials company's stock valued at $38,000 after buying an additional 341 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Performance

Shares of NASDAQ CALM traded up $0.04 during trading on Tuesday, hitting $90.20. The company had a trading volume of 405,175 shares, compared to its average volume of 613,160. Cal-Maine Foods has a 52 week low of $45.07 and a 52 week high of $95.06. The business's 50-day moving average is $78.18 and its 200 day moving average is $67.81. The company has a market cap of $4.42 billion, a P/E ratio of 15.92 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.36 by ($0.30). Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The company had revenue of $785.87 million for the quarter, compared to analyst estimates of $704.65 million. During the same period last year, the firm earned $0.02 earnings per share. The firm's revenue for the quarter was up 71.1% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CALM. StockNews.com downgraded shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Stephens initiated coverage on Cal-Maine Foods in a research report on Thursday, October 3rd. They issued an "equal weight" rating and a $82.00 target price for the company. Finally, The Goldman Sachs Group lifted their target price on Cal-Maine Foods from $47.00 to $52.00 and gave the stock a "sell" rating in a report on Wednesday, July 17th.

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.