First Trust Advisors LP Has $122.86 Million Position in Cal-Maine Foods, Inc. $CALM

First Trust Advisors LP increased 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 filing with the SEC. The institutional investor owned 1,552,297 shares of the basic materials company’s stock after purchasing an additional 355,762 shares during the quarter. First Trust Advisors LP owned 3.28% of Cal-Maine Foods worth $122,864,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CALM. Pinnacle Holdings LLC acquired a new position in Cal-Maine Foods during the 4th quarter worth approximately $30,000. WealthCollab LLC raised its holdings in shares of Cal-Maine Foods by 105.2% in the fourth quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 221 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Cal-Maine Foods by 58.2% in the third 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 last quarter. Signaturefd LLC lifted its position in shares of Cal-Maine Foods by 46.5% in the fourth quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 155 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Cal-Maine Foods in the third quarter worth $42,000. Institutional investors own 84.67% of the company’s stock.

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

Cal-Maine Foods Stock Performance

Shares of NASDAQ:CALM opened at $88.14 on Friday. Cal-Maine Foods, Inc. has a 52 week low of $71.92 and a 52 week high of $119.17. The firm has a market cap of $4.18 billion, a PE ratio of 13.46 and a beta of 0.25. The firm’s fifty day moving average is $80.30 and its 200-day moving average is $80.42.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data 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 company had revenue of $552.58 million during 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 business’s revenue for the quarter was down 49.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.04 earnings per share.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CALM. Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a report on Monday, July 13th. Stephens decreased their price objective 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. Royal Bank Of Canada set a $100.00 price objective on shares of Cal-Maine Foods in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cal-Maine Foods in a report on Wednesday, July 8th. Finally, BMO Capital Markets lifted their price target on Cal-Maine Foods from $75.00 to $83.00 and gave the company a “market perform” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $94.71.

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.