Cal-Maine Foods, Inc. $CALM Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 8.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 697,727 shares of the basic materials company’s stock after selling 61,583 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cal-Maine Foods were worth $55,225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cal-Maine Foods by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company’s stock valued at $2,218,000 after purchasing an additional 1,057 shares in the last quarter. NewEdge Advisors LLC boosted its position in Cal-Maine Foods by 100.8% during the first quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company’s stock worth $726,000 after purchasing an additional 4,009 shares in the last quarter. United Services Automobile Association purchased a new stake in Cal-Maine Foods during the first quarter worth $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Cal-Maine Foods by 10.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company’s stock valued at $7,765,000 after purchasing an additional 7,736 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Cal-Maine Foods by 323.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,087 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 830 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CALM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cal-Maine Foods in a research note on Wednesday, July 8th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. Wells Fargo & Company set a $100.00 target price on shares of Cal-Maine Foods in a report on Monday, July 13th. Stephens cut their target price on shares of Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 14th. Finally, BMO Capital Markets upped their price target on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the company a “market perform” rating in a report on Thursday. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $94.71.

Cal-Maine Foods Stock Up 0.3%

NASDAQ CALM opened at $88.14 on Friday. Cal-Maine Foods, Inc. has a fifty-two week low of $71.92 and a fifty-two week high of $119.17. The business has a fifty day moving average of $80.30 and a 200-day moving average of $80.42. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 13.46 and a beta of 0.25.

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

Key Stories Impacting Cal-Maine Foods

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

Cal-Maine Foods 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.