AIA Group Ltd Takes Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• AIA Group Ltd has acquired 4,693 shares of Cal-Maine Foods, valued at approximately $427,000, as disclosed in its latest 13F SEC filing.
• Cal-Maine Foods reported earnings of $7.04 per share for the last quarter, significantly exceeding analyst expectations of $5.29 per share, with revenues increasing 72.1% year-over-year.
• Equity analysts have recently adjusted their price targets for Cal-Maine Foods, with Stephens raising it from $108.00 to $115.00 while maintaining an "equal weight" rating.

AIA Group Ltd acquired a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,693 shares of the basic materials company's stock, valued at approximately $427,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC increased its stake in Cal-Maine Foods by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 5,755 shares of the basic materials company's stock valued at $592,000 after purchasing an additional 97 shares in the last quarter. Two Sigma Securities LLC boosted its holdings in shares of Cal-Maine Foods by 2.8% in the 4th quarter. Two Sigma Securities LLC now owns 3,894 shares of the basic materials company's stock valued at $401,000 after acquiring an additional 106 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Cal-Maine Foods by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,290 shares of the basic materials company's stock valued at $442,000 after acquiring an additional 136 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Cal-Maine Foods by 0.3% in the 4th quarter. Captrust Financial Advisors now owns 55,892 shares of the basic materials company's stock valued at $5,752,000 after acquiring an additional 163 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Cal-Maine Foods by 8.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,511 shares of the basic materials company's stock valued at $228,000 after acquiring an additional 191 shares during the last quarter. Institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Trading Up 2.5%

CALM traded up $2.66 during midday trading on Friday, hitting $110.65. 1,086,131 shares of the company traded hands, compared to its average volume of 973,719. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 4.43 and a beta of 0.19. Cal-Maine Foods, Inc. has a 52-week low of $68.22 and a 52-week high of $126.40. The business has a 50 day simple moving average of $103.31 and a two-hundred day simple moving average of $97.66.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $1.75. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $877.03 million. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The company's revenue was up 72.1% compared to the same quarter last year. During the same period last year, the firm posted $2.32 earnings per share. Equities research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CALM. The Goldman Sachs Group began coverage on shares of Cal-Maine Foods in a report on Thursday. They issued a "neutral" rating and a $110.00 price objective on the stock. BMO Capital Markets upped their price objective on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Stephens increased their price target on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Finally, Wall Street Zen downgraded shares of Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th.

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.