Bessemer Group Inc. Boosts Position in Cal-Maine Foods, Inc. $CALM

Bessemer Group Inc. boosted its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 60.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,116 shares of the basic materials company’s stock after purchasing an additional 22,233 shares during the quarter. Bessemer Group Inc.’s holdings in Cal-Maine Foods were worth $4,680,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in Cal-Maine Foods in the 4th quarter valued at $6,244,000. Assetmark Inc. lifted its stake in shares of Cal-Maine Foods by 36.6% in the 4th quarter. Assetmark Inc. now owns 118,773 shares of the basic materials company’s stock worth $9,451,000 after acquiring an additional 31,826 shares during the period. UBS Group AG lifted its stake in shares of Cal-Maine Foods by 17.3% in the 4th quarter. UBS Group AG now owns 405,459 shares of the basic materials company’s stock worth $32,262,000 after acquiring an additional 59,659 shares during the period. Directional Asset Management acquired a new position in shares of Cal-Maine Foods during the fourth quarter worth about $1,094,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Cal-Maine Foods by 46.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 38,853 shares of the basic materials company’s stock worth $3,092,000 after acquiring an additional 12,248 shares during the period. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM opened at $88.42 on Tuesday. The business’s 50 day simple moving average is $79.76 and its 200-day simple moving average is $80.24. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 6.16 and a beta of 0.25. Cal-Maine Foods, Inc. has a 12 month low of $71.92 and a 12 month high of $126.40.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CALM shares. Wells Fargo & Company set a $100.00 price objective on shares of Cal-Maine Foods in a research report on Monday, July 13th. BMO Capital Markets dropped their target price on Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 25th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. Stephens reduced their price target on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada set a $100.00 price target on Cal-Maine Foods in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $94.29.

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.