Convergence Investment Partners buys $9.2 Million stake in Cal-Maine Foods Inc (CALM)

Cal-Maine Foods Inc (CALM) : Convergence Investment Partners scooped up 10,607 additional shares in Cal-Maine Foods Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 189,007 shares of Cal-Maine Foods Inc which is valued at $9.2 Million.Cal-Maine Foods Inc makes up approximately 1.12% of Convergence Investment Partners’s portfolio.

Other Hedge Funds, Including , First Interstate Bank added CALM to its portfolio by purchasing 1,600 company shares during the most recent quarter which is valued at $78,208. Cal-Maine Foods Inc makes up approx 0.02% of First Interstate Bank’s portfolio.Morgan Dempsey Capital Management reduced its stake in CALM by selling 418 shares or 0.52% in the most recent quarter. The Hedge Fund company now holds 79,792 shares of CALM which is valued at $3.9 Million. Cal-Maine Foods Inc makes up approx 1.43% of Morgan Dempsey Capital Management’s portfolio.New York State Common Retirement Fund reduced its stake in CALM by selling 194,922 shares or 71.92% in the most recent quarter. The Hedge Fund company now holds 76,100 shares of CALM which is valued at $3.9 Million. Cal-Maine Foods Inc makes up approx 0.01% of New York State Common Retirement Fund’s portfolio. Cypress Capital Management (wy) added CALM to its portfolio by purchasing 150 company shares during the most recent quarter which is valued at $7,614. Cal-Maine Foods Inc makes up approx 0.01% of Cypress Capital Management (wy)’s portfolio.

Cal-Maine Foods Inc closed down -0.16 points or -0.33% at $48.72 with 3,86,371 shares getting traded on Monday. Post opening the session at $48.95, the shares hit an intraday low of $48.44 and an intraday high of $49.1989 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Cal-Maine Foods Inc reported $1.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.34 according to the earnings call on Mar 28, 2016. Analyst had a consensus of $0.99. The company had revenue of $449.80 million for the quarter, compared to analysts expectations of $442.48 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.

Many Wall Street Analysts have commented on Cal-Maine Foods Inc. Shares were Downgraded by DA Davidson on May 9, 2016 to ” Underperform” and Lowered the Price Target to $ 45 from a previous price target of $55 .Shares were Downgraded by DA Davidson on Mar 29, 2016 to ” Neutral” and Lowered the Price Target to $ 55 from a previous price target of $60 .Cal-Maine Foods Inc was Downgraded by Sidoti to ” Neutral” on Mar 29, 2016.

Cal-Maine Foods Inc. is a producer and marketer of shell eggs in the United States. The Company’s primary business is the production grading packaging marketing and distribution of shell eggs. The Company sells its shell eggs in the southwestern southeastern mid-western and mid-Atlantic regions of the United States. The Company markets its shell eggs through its distribution network to a group of customers including national and regional grocery store chains club stores foodservice distributors and egg product consumers. Some of its sales are completed through co-pack agreements. It has a total flock of approximately 33.7 million layers and 8.4 million pullets and breeders. The Company markets its specialty shell eggs under brands such as Egg-Land’s Best Land O’ Lakes Farmhouse and 4-Grain. The Company also produces markets and distributes private label specialty shell eggs to several customers.

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