Avalon Investment & Advisory recently reduced its holdings in Cal-Maine Foods, Inc. by 2.6% during the first quarter of this year, according to the company’s Form 13F filing with the Securities and Exchange Commission. The investment firm sold 21,564 shares of Cal-Maine Foods’ stock, leaving them with a total of 810,594 shares. Despite the decrease in holdings, Cal-Maine Foods still accounts for approximately 1.4% of Avalon Investment & Advisory’s investment portfolio, making it their 15th largest holding. At the end of the first quarter, Avalon Investment & Advisory’s stake in Cal-Maine Foods was valued at $49,357,000.
On July 25th, Cal-Maine Foods released its quarterly earnings results. The company reported earnings per share (EPS) of $2.27 for the quarter, surpassing the consensus estimate of $1.38 by $0.89. Additionally, Cal-Maine Foods generated revenue of $688.70 million compared to analyst estimates of $612.94 million for the same period. These positive results reflect a 16.1% increase in quarterly revenue compared to last year.
Cal-Maine Foods has also demonstrated favorable financial metrics such as a net margin of 24.09% and a return on equity of 53.64%. Analysts anticipate that for the current year, Cal-Maine Foods will post earnings per share of 2.96.
As an investment option, Cal-Maine Foods has shown resilience and potential for growth within Avalon Investment & Advisory’s diverse portfolio. While there was a minor reduction in holdings earlier this year, it is important to note that Avalon Investment & Advisory maintains confidence in their investment in Cal-Maine Foods as it remains one of their top holdings.
Investors looking for stock analysis on Cal-Maine Foods can access our latest insights and evaluations to make informed investment decisions.
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Multiple Hedge Funds Make Changes to Positions in Cal-Maine Foods, Leaving Investors Perplexed
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”IRT” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Perplexity arises as multiple hedge funds have recently made changes to their positions in Cal-Maine Foods, a basic materials company. BlackRock Inc., one such hedge fund, increased its holdings in the company by 0.8% during the first quarter. With an additional purchase of 48,222 shares, BlackRock now owns a staggering 6,199,712 shares of Cal-Maine Foods’ stock, worth approximately $342,347,000.
Vanguard Group Inc., another prominent hedge fund, raised its holdings in Cal-Maine Foods by 9.8% during the third quarter. The fund acquired an additional 446,909 shares and now owns a total of 4,992,618 shares valued at $277,540,000.
Dimensional Fund Advisors LP also augmented its stakes in Cal-Maine Foods by 6.2% during the first quarter. With an additional purchase of 111,339 shares, Dimensional Fund Advisors LP now owns 1,914,007 shares valued at $116,542,000.
Millennium Management LLC followed suit by raising its holdings in Cal-Maine Foods by 2.9% during the fourth quarter. The fund purchased an extra 45,771 shares and currently possesses a total of 1,604,025 shares worth $87,339,000.
First Trust Advisors LP concluded the list of institutional investors that modified their positions in Cal-Maine Foods during the fourth quarter. With an additional acquisition of 175,942 shares bringing their total to 1.,222316 million shares valued at $66,.546 million.
These institutional investors collectively own a significant portion – specifically comprising around 84.70% – of Cal-Maine Foods’ stock.
On Friday’s mid-day trading session (September 10th), Cal-Maine Foods’ stock traded up $0..70 and reached $49..60 per share. The trading volume for the day reached 796,715 shares, compared to the average volume of 621,650 shares. The market capitalization of Cal-Maine Foods currently stands at $2..43 billion.
Cal-Maine Foods holds a price-to-earnings (P/E) ratio of 3.19 and a price/earnings-to-growth (P/E/G) ratio of 0.99. Its beta stands at -0.07.
Over the past twelve months, Cal-Maine Foods’ stock has fluctuated between a low of $43..29 and a high of $65.32; stimulating further perplexity among investors and analysts alike.
Furthermore, the company announced its quarterly dividend on August 22nd and shareholders of record as of August 7th were entitled to receive a dividend of $0..76 per share. This translates to an annualized dividend payout of $3..04 per share, yielding an impressive 6.13%. The ex-dividend date was set for August 4th.
Numerous equities research analysts have recently shared their views on Cal-Maine Foods. StockNews.com initiated coverage on the stock with a “hold” rating on August 17th, while Stephens reduced their target price from $50..00 to $47..00 in their report issued on July 26th.
Moreover, The Goldman Sachs Group also lowered its price target on Cal-Maine Foods’ shares from $43..00 down to $40..00 in their research report published on July 6th.
As perplexing as these recent investment activities may be, they provide insight into the ever-evolving dynamics surrounding Cal-Maine Foods and leave investors pondering about its future prospects in the market.
