California Public Employees Retirement System reduced its holdings in shares of Cal-Maine Foods Inc (NASDAQ:CALM) by 4.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,506 shares of the basic materials company’s stock after selling 2,700 shares during the quarter. California Public Employees Retirement System owned approximately 0.12% of Cal-Maine Foods worth $2,600,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CALM. Diamond Hill Capital Management Inc. bought a new stake in Cal-Maine Foods in the 1st quarter valued at $10,961,000. Dean Capital Management bought a new stake in Cal-Maine Foods in the 4th quarter valued at $2,780,000. BlackRock Inc. boosted its stake in Cal-Maine Foods by 1.5% in the 1st quarter. BlackRock Inc. now owns 3,828,096 shares of the basic materials company’s stock valued at $167,289,000 after purchasing an additional 56,980 shares during the period. Paloma Partners Management Co boosted its stake in Cal-Maine Foods by 135.0% in the 4th quarter. Paloma Partners Management Co now owns 12,999 shares of the basic materials company’s stock valued at $578,000 after purchasing an additional 50,123 shares during the period. Finally, Deutsche Bank AG boosted its stake in Cal-Maine Foods by 117.5% in the 4th quarter. Deutsche Bank AG now owns 71,169 shares of the basic materials company’s stock valued at $3,162,000 after purchasing an additional 38,454 shares during the period. Institutional investors and hedge funds own 56.96% of the company’s stock.
Several analysts recently issued reports on CALM shares. ValuEngine downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. Stephens boosted their price target on Cal-Maine Foods from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, April 3rd. BidaskClub upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, March 27th. Zacks Investment Research upgraded Cal-Maine Foods from a “hold” rating to a “strong-buy” rating and set a $54.00 price target for the company in a research note on Friday, April 13th. Finally, TheStreet upgraded Cal-Maine Foods from a “c” rating to a “b” rating in a research note on Monday, April 2nd. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Cal-Maine Foods presently has an average rating of “Buy” and a consensus target price of $54.50.
Shares of NASDAQ CALM opened at $46.25 on Friday. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -29.97 and a beta of 0.62. Cal-Maine Foods Inc has a fifty-two week low of $33.40 and a fifty-two week high of $52.30.
Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Monday, April 2nd. The basic materials company reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.01. The firm had revenue of $435.80 million during the quarter, compared to analysts’ expectations of $404.33 million. Cal-Maine Foods had a return on equity of 5.62% and a net margin of 2.23%. The company’s quarterly revenue was up 42.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. equities research analysts anticipate that Cal-Maine Foods Inc will post 2.95 earnings per share for the current fiscal year.
Cal-Maine Foods Profile
Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. It offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.
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