Advisor Group Holdings Inc. Acquires 689 Shares of Cal-Maine Foods Inc (NASDAQ:CALM)

Advisor Group Holdings Inc. raised its holdings in shares of Cal-Maine Foods Inc (NASDAQ:CALM) by 32.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,782 shares of the basic materials company’s stock after acquiring an additional 689 shares during the period. Advisor Group Holdings Inc.’s holdings in Cal-Maine Foods were worth $123,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CALM. Alliancebernstein L.P. raised its holdings in Cal-Maine Foods by 1.4% during the first quarter. Alliancebernstein L.P. now owns 54,216 shares of the basic materials company’s stock worth $2,384,000 after acquiring an additional 725 shares in the last quarter. FDx Advisors Inc. lifted its position in shares of Cal-Maine Foods by 547.2% in the second quarter. FDx Advisors Inc. now owns 17,829 shares of the basic materials company’s stock valued at $793,000 after buying an additional 15,074 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Cal-Maine Foods by 10.7% in the first quarter. BNP Paribas Arbitrage SA now owns 13,783 shares of the basic materials company’s stock valued at $606,000 after buying an additional 1,335 shares during the last quarter. Swiss National Bank boosted its stake in shares of Cal-Maine Foods by 15.1% during the 2nd quarter. Swiss National Bank now owns 68,600 shares of the basic materials company’s stock worth $3,051,000 after acquiring an additional 9,000 shares during the period. Finally, APG Asset Management N.V. acquired a new position in shares of Cal-Maine Foods during the 1st quarter worth approximately $12,467,000. 63.34% of the stock is currently owned by institutional investors.

CALM has been the subject of a number of research analyst reports. TheStreet cut shares of Cal-Maine Foods from a “b-” rating to a “c” rating in a research report on Wednesday, September 30th. BidaskClub downgraded shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Investment Research downgraded Cal-Maine Foods from a “buy” rating to a “sell” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $49.00.

Shares of CALM traded down $0.29 during mid-day trading on Friday, hitting $38.01. 163,590 shares of the company’s stock were exchanged, compared to its average volume of 494,845. Cal-Maine Foods Inc has a 52 week low of $30.74 and a 52 week high of $46.66. The stock’s 50-day simple moving average is $39.44 and its 200-day simple moving average is $42.21. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 41.77 and a beta of -0.22.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Saturday, October 3rd. The basic materials company reported ($0.40) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.53) by $0.13. Cal-Maine Foods had a return on equity of 4.61% and a net margin of 3.19%. The firm had revenue of $292.80 million during the quarter, compared to analysts’ expectations of $282.42 million. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.94) EPS. Sell-side analysts forecast that Cal-Maine Foods Inc will post 1.41 earnings per share for the current year.

In related news, major shareholder Jean Morris Adams sold 1,380,000 shares of Cal-Maine Foods stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $39.00, for a total transaction of $53,820,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adolphus B. Baker sold 5,520,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $39.00, for a total transaction of $215,280,000.00. Following the transaction, the chief executive officer now owns 160,143 shares of the company’s stock, valued at $6,245,577. The disclosure for this sale can be found here. Company insiders own 27.50% of the company’s stock.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

Further Reading: When can a hold rating present a buying opportunity?

Institutional Ownership by Quarter for Cal-Maine Foods (NASDAQ:CALM)

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