Cal-Maine Foods, Inc. (NASDAQ:CALM) Short Interest Update

Cal-Maine Foods, Inc. (NASDAQ:CALM) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 2,880,000 shares, an increase of 44.7% from the September 30th total of 1,990,000 shares. Currently, 7.1% of the company’s shares are sold short. Based on an average trading volume of 568,000 shares, the days-to-cover ratio is presently 5.1 days.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM traded down $0.01 during trading on Tuesday, hitting $90.15. The company’s stock had a trading volume of 93,384 shares, compared to its average volume of 611,668. The company has a 50-day moving average of $78.18 and a 200-day moving average of $67.81. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 15.92 and a beta of -0.10. Cal-Maine Foods has a 12 month low of $45.07 and a 12 month high of $95.06.

Cal-Maine Foods (NASDAQ:CALM) last announced 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). The company 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%. Cal-Maine Foods’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 business posted $0.02 earnings per share.

Insider Buying and Selling

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

Hedge Funds Weigh In On Cal-Maine Foods

Several large investors have recently added to or reduced their stakes in the company. AlphaMark Advisors LLC purchased a new position in Cal-Maine Foods in the 1st quarter worth approximately $312,000. Allspring Global Investments Holdings LLC lifted its stake in Cal-Maine Foods by 4.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 45,440 shares of the basic materials company’s stock worth $2,674,000 after purchasing an additional 1,989 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Cal-Maine Foods by 9.4% during the 1st quarter. Principal Financial Group Inc. now owns 231,487 shares of the basic materials company’s stock valued at $13,623,000 after purchasing an additional 19,983 shares during the last quarter. Shariaportfolio Inc. grew its position in shares of Cal-Maine Foods by 2.9% during the first quarter. Shariaportfolio Inc. now owns 46,259 shares of the basic materials company’s stock valued at $2,722,000 after purchasing an additional 1,311 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cal-Maine Foods by 10.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,356 shares of the basic materials company’s stock worth $1,159,000 after purchasing an additional 2,079 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analysts Set New Price Targets

CALM has been the topic of several recent analyst reports. StockNews.com cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Stephens assumed coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective for the company. Finally, The Goldman Sachs Group raised their target price on shares of Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a report on Wednesday, July 17th.

Cal-Maine Foods Company 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.