Allspring Global Investments Holdings LLC Purchases 8,283 Shares of Cal-Maine Foods, Inc. $CALM

Allspring Global Investments Holdings LLC increased its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 10.4% in the first quarter, HoldingsChannel reports. The firm owned 87,853 shares of the basic materials company’s stock after purchasing an additional 8,283 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cal-Maine Foods were worth $7,323,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in Cal-Maine Foods by 12.8% in the second quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 116 shares in the last quarter. MML Investors Services LLC raised its holdings in Cal-Maine Foods by 1.8% during the 4th quarter. MML Investors Services LLC now owns 7,428 shares of the basic materials company’s stock worth $591,000 after purchasing an additional 131 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in shares of Cal-Maine Foods by 0.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 23,884 shares of the basic materials company’s stock worth $1,900,000 after buying an additional 131 shares during the period. IFP Advisors Inc lifted its stake in shares of Cal-Maine Foods by 58.2% in the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 139 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Cal-Maine Foods by 4.8% in the 4th quarter. GAMMA Investing LLC now owns 3,164 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 145 shares during the period. 84.67% of the stock is owned by institutional investors.

Cal-Maine Foods News Roundup

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

Analysts Set New Price Targets

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

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $88.14 on Friday. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 13.46 and a beta of 0.25. The stock’s 50-day moving average is $80.30 and its 200-day moving average is $80.42. Cal-Maine Foods, Inc. has a one year low of $71.92 and a one year high of $119.17.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly 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). The firm had revenue of $552.58 million for the quarter, compared to analyst estimates of $563.83 million. Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The company’s revenue was down 49.9% compared to the same quarter last year. During the same period last year, the company earned $7.04 EPS.

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. 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.