Verition Fund Management LLC Decreases Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Verition Fund Management LLC lowered its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 55.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,452 shares of the basic materials company’s stock after selling 133,904 shares during the period. Verition Fund Management LLC’s holdings in Cal-Maine Foods were worth $8,042,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CALM. Hantz Financial Services Inc. purchased a new position in shares of Cal-Maine Foods in the second quarter worth $25,000. Harbor Capital Advisors Inc. purchased a new position in Cal-Maine Foods in the 3rd quarter worth about $29,000. Hexagon Capital Partners LLC lifted its stake in Cal-Maine Foods by 57.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 155 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Cal-Maine Foods during the 3rd quarter valued at about $33,000. Finally, Quarry LP grew its stake in shares of Cal-Maine Foods by 1,975.0% in the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 553 shares during the period. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Stock Up 0.5 %

Cal-Maine Foods stock opened at $97.61 on Monday. The business has a 50-day simple moving average of $88.51 and a two-hundred day simple moving average of $73.47. Cal-Maine Foods, Inc. has a 52-week low of $47.06 and a 52-week high of $99.63. The company has a market cap of $4.79 billion, a P/E ratio of 11.18 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Tuesday, October 1st. The basic materials company reported $3.06 earnings per share for the quarter, missing the consensus estimate 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 firm’s revenue was up 71.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 earnings per share. Research analysts anticipate that Cal-Maine Foods, Inc. will post 8.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, November 23rd. Stephens started coverage on Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price target 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.