Neo Ivy Capital Management Takes $788,000 Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Neo Ivy Capital Management bought a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,536 shares of the basic materials company's stock, valued at approximately $788,000.

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

Cal-Maine Foods Stock Performance

NASDAQ CALM traded up $0.13 during trading on Thursday, hitting $105.89. The stock had a trading volume of 546,322 shares, compared to its average volume of 591,611. Cal-Maine Foods, Inc. has a 12 month low of $49.00 and a 12 month high of $106.79. The company's 50-day moving average price is $93.13 and its two-hundred day moving average price is $75.97. The company has a market capitalization of $5.19 billion, a PE ratio of 12.13 and a beta of -0.10.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The business's revenue for the quarter was up 71.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 EPS. As a group, equities analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CALM has been the topic of a number of research reports. StockNews.com lowered shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday, November 23rd. Stephens started coverage on shares of Cal-Maine Foods in a research report on Thursday, October 3rd. They issued an "equal weight" rating and a $82.00 price objective on the stock.

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.