American Century Companies Inc. Purchases 170,322 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• American Century Companies Inc. increased its stake in Cal-Maine Foods by 13.4% during the first quarter, now owning 1,436,943 shares valued at approximately $130.62 million.
• Several institutional investors significantly modified their holdings in Cal-Maine Foods, with Man Group plc and Millennium Management LLC raising their stakes by 258.7% and 515.1% respectively in the fourth quarter.
• Cal-Maine Foods reported a notable earnings surprise, with an EPS of $7.04, exceeding analysts' expectations of $5.29, while revenue surged by 72.1% year-over-year.

American Century Companies Inc. lifted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,436,943 shares of the basic materials company's stock after buying an additional 170,322 shares during the period. American Century Companies Inc. owned approximately 2.93% of Cal-Maine Foods worth $130,618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Man Group plc lifted its position in Cal-Maine Foods by 258.7% in the 4th quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock worth $59,973,000 after buying an additional 420,247 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Cal-Maine Foods by 515.1% during the 4th quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company's stock valued at $49,142,000 after acquiring an additional 399,848 shares in the last quarter. Nuveen LLC acquired a new position in shares of Cal-Maine Foods in the first quarter worth $35,322,000. Jupiter Asset Management Ltd. raised its holdings in shares of Cal-Maine Foods by 336.5% during the first quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company's stock worth $44,288,000 after acquiring an additional 375,604 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Cal-Maine Foods by 60.2% during the fourth quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock valued at $69,403,000 after purchasing an additional 253,310 shares during the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Cal-Maine Foods Price Performance

Shares of CALM stock traded up $2.72 on Friday, reaching $115.97. 265,033 shares of the stock were exchanged, compared to its average volume of 962,928. Cal-Maine Foods, Inc. has a one year low of $68.22 and a one year high of $126.40. The stock has a market cap of $5.69 billion, a PE ratio of 4.65 and a beta of 0.19. The stock has a 50 day moving average price of $104.86 and a 200 day moving average price of $97.68.

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

Analyst Ratings Changes

CALM has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. The Goldman Sachs Group started coverage on shares of Cal-Maine Foods in a report on Thursday, August 14th. They issued a "neutral" rating and a $110.00 price target on the stock. BMO Capital Markets increased their target price on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Finally, Stephens boosted their price target on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Cal-Maine Foods presently has an average rating of "Hold" and an average price target of $110.00.

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.