Cal-Maine Foods, Inc. (NASDAQ:CALM) Sees Significant Increase in Short Interest

Cal-Maine Foods, Inc. (NASDAQ:CALM) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 3,300,000 shares, an increase of 11.1% from the November 30th total of 2,970,000 shares. Approximately 8.1% of the shares of the company are sold short. Based on an average daily volume of 601,700 shares, the short-interest ratio is presently 5.5 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CALM shares. Stephens began coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price target on the stock. StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Monday.

Cal-Maine Foods Trading Up 0.9 %

NASDAQ CALM traded up $0.89 during trading hours on Tuesday, hitting $102.92. 356,709 shares of the company’s stock traded hands, compared to its average volume of 596,709. Cal-Maine Foods has a 52 week low of $53.02 and a 52 week high of $114.06. The firm has a market capitalization of $5.05 billion, a P/E ratio of 11.79 and a beta of -0.10. The business’s fifty day moving average price is $96.44 and its two-hundred day moving average price is $79.96.

Cal-Maine Foods (NASDAQ:CALM) last issued 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 for the quarter, compared to analysts’ expectations of $704.65 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The company’s revenue was up 71.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 EPS. On average, sell-side analysts expect that Cal-Maine Foods will post 8.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Cal-Maine Foods

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Neo Ivy Capital Management bought a new stake in Cal-Maine Foods during the 3rd quarter worth approximately $788,000. Centiva Capital LP purchased a new stake in shares of Cal-Maine Foods in the third quarter worth $491,000. Franklin Resources Inc. raised its position in shares of Cal-Maine Foods by 91.7% during the 3rd quarter. Franklin Resources Inc. now owns 62,979 shares of the basic materials company’s stock valued at $4,713,000 after purchasing an additional 30,122 shares during the period. Barclays PLC lifted its stake in shares of Cal-Maine Foods by 48.3% during the 3rd quarter. Barclays PLC now owns 103,558 shares of the basic materials company’s stock valued at $7,749,000 after buying an additional 33,731 shares in the last quarter. Finally, AE Wealth Management LLC boosted its holdings in Cal-Maine Foods by 267.4% in the 2nd quarter. AE Wealth Management LLC now owns 17,747 shares of the basic materials company’s stock worth $1,085,000 after buying an additional 12,917 shares during the period. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

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.