First Trust Advisors LP Purchases 355,762 Shares of Cal-Maine Foods, Inc. $CALM

First Trust Advisors LP grew its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 29.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,552,297 shares of the basic materials company’s stock after acquiring an additional 355,762 shares during the period. First Trust Advisors LP’s holdings in Cal-Maine Foods were worth $122,864,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CALM. Dimensional Fund Advisors LP grew its stake in Cal-Maine Foods by 13.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,519,483 shares of the basic materials company’s stock worth $199,416,000 after purchasing an additional 300,910 shares during the period. State Street Corp lifted its stake in Cal-Maine Foods by 6.8% in the second quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock valued at $171,038,000 after buying an additional 108,578 shares during the period. Morgan Stanley lifted its stake in Cal-Maine Foods by 9.4% in the fourth quarter. Morgan Stanley now owns 978,163 shares of the basic materials company’s stock valued at $77,832,000 after buying an additional 84,124 shares during the period. Northern Trust Corp boosted its holdings in shares of Cal-Maine Foods by 8.4% during the 3rd quarter. Northern Trust Corp now owns 900,466 shares of the basic materials company’s stock worth $84,734,000 after buying an additional 70,063 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Cal-Maine Foods by 32.2% during the 4th quarter. Bank of New York Mellon Corp now owns 759,310 shares of the basic materials company’s stock worth $60,418,000 after buying an additional 184,843 shares in the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Key Cal-Maine Foods News

Here are the key news stories impacting Cal-Maine Foods this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Cal-Maine Foods from $75 to $83, but kept a market perform rating, suggesting the firm sees some valuation support even though it still implies downside from the current share price. Benzinga article
• Neutral Sentiment: Cal-Maine Foods was the target of unusually large options trading, indicating heightened investor attention after earnings, but not necessarily a clear directional catalyst. American Banking News article
• Neutral Sentiment: Analysts and commentary around the results focused on whether CALM is fairly valued after the earnings report and on management’s discussion of revenue declines and diversification efforts. Yahoo Finance article
• Negative Sentiment: Media coverage emphasized the surprise Q4 loss, low egg prices, and a significant drop in sales and margins, reinforcing the core reason for the stock’s weakness. Motley Fool article

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CALM shares. Royal Bank Of Canada set a $100.00 price objective on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Stephens cut their target price on shares of Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 14th. BMO Capital Markets raised their price target on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the stock a “market perform” rating in a report on Thursday. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cal-Maine Foods in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Cal-Maine Foods presently has an average rating of “Hold” and a consensus target price of $94.71.

Cal-Maine Foods Trading Up 0.3%

Cal-Maine Foods stock opened at $88.14 on Friday. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 13.46 and a beta of 0.25. The firm’s fifty day moving average price is $80.30 and its two-hundred day moving average price is $80.42. Cal-Maine Foods, Inc. has a 1-year low of $71.92 and a 1-year high of $119.17.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.84). Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The business had revenue of $552.58 million during the quarter, compared to analyst estimates of $563.83 million. During the same quarter in the prior year, the company earned $7.04 EPS. The company’s revenue was down 49.9% on a year-over-year basis.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.