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

Cal-Maine Foods, Inc. (NASDAQ:CALM) was the target of a large 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. Based on an average trading volume of 568,000 shares, the short-interest ratio is presently 5.1 days. Approximately 7.1% of the shares of the company are short sold.

Cal-Maine Foods Stock Up 0.0 %

NASDAQ CALM traded up $0.04 on Tuesday, reaching $90.20. The company had a trading volume of 405,009 shares, compared to its average volume of 613,159. The stock’s 50 day moving average is $78.18 and its 200-day moving average is $67.81. The stock 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 52 week low of $45.07 and a 52 week high of $95.06.

Cal-Maine Foods (NASDAQ:CALM) last released 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). Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The company had revenue of $785.87 million during the quarter, compared to the consensus estimate of $704.65 million. During the same quarter in the prior year, the company posted $0.02 EPS. The company’s revenue for the quarter was up 71.1% compared to the same quarter last year.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total value of $210,600.00. Following the transaction, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at $372,762. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Cal-Maine Foods news, COO Michael Todd Walters sold 3,000 shares of Cal-Maine Foods stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $70.20, for a total value of $210,600.00. Following the transaction, the chief operating officer now directly owns 5,310 shares of the company’s stock, valued at $372,762. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the vice president now directly owns 16,754 shares in the company, valued at approximately $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 owned by company insiders.

Institutional Investors Weigh In On Cal-Maine Foods

Large investors have recently modified their holdings of the business. 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 increased 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 worth $32,000 after acquiring an additional 155 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Cal-Maine Foods in the third quarter worth about $33,000. Quarry LP increased its holdings 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 in the last quarter. Finally, CWM LLC boosted its position in shares of Cal-Maine Foods by 120.1% during the second quarter. CWM LLC now owns 625 shares of the basic materials company’s stock worth $38,000 after buying an additional 341 shares during the period. 84.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CALM shares. Stephens began coverage on Cal-Maine Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective on the stock. StockNews.com lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group boosted their price objective on Cal-Maine Foods from $47.00 to $52.00 and gave the stock a “sell” rating in a research note 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.