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

Cal-Maine Foods, Inc. (NASDAQ:CALM) was the target of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 3,470,000 shares, an increase of 25.3% from the May 15th total of 2,770,000 shares. Based on an average daily volume of 701,500 shares, the short-interest ratio is currently 4.9 days. Currently, 8.5% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Stephens reaffirmed an “equal weight” rating and set a $65.00 price target on shares of Cal-Maine Foods in a research report on Wednesday, April 3rd.

Institutional Investors Weigh In On Cal-Maine Foods

A number of institutional investors have recently added to or reduced their stakes in CALM. Park Place Capital Corp purchased a new position in shares of Cal-Maine Foods during the fourth quarter valued at about $26,000. Cape Investment Advisory Inc. purchased a new stake in shares of Cal-Maine Foods during the 4th quarter worth approximately $32,000. TFO Wealth Partners LLC boosted its position in shares of Cal-Maine Foods by 32,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 650 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 648 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Cal-Maine Foods in the fourth quarter valued at $43,000. Finally, MCF Advisors LLC bought a new stake in Cal-Maine Foods in the first quarter worth $46,000. 84.67% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Stock Performance

Shares of NASDAQ CALM traded down $0.21 during midday trading on Friday, reaching $58.63. The stock had a trading volume of 330,960 shares, compared to its average volume of 546,871. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 10.40 and a beta of -0.05. Cal-Maine Foods has a 12-month low of $42.25 and a 12-month high of $64.76. The stock has a 50-day moving average of $59.12 and a 200-day moving average of $57.25.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Tuesday, April 2nd. The basic materials company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.55. The business had revenue of $703.08 million for the quarter, compared to analysts’ expectations of $692.35 million. Cal-Maine Foods had a return on equity of 16.79% and a net margin of 11.61%. The business’s quarterly revenue was down 29.5% on a year-over-year basis. During the same period last year, the firm earned $6.62 earnings per share. As a group, analysts forecast that Cal-Maine Foods will post 4.51 EPS for the current fiscal year.

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.