Bank of New York Mellon Corp Buys Shares of 718,648 Cal-Maine Foods, Inc. $CALM

Key Points

• Bank of New York Mellon acquired 718,648 Cal-Maine Foods shares worth approximately $57.9 million, giving it a 1.53% stake. Institutional investors and hedge funds collectively own 84.67% of the company.
• Cal-Maine Foods reported a weak quarter, with an adjusted loss of $0.76 per share versus analysts’ expected $0.08 profit, while revenue fell 49.9% year over year to $552.6 million.
• Shares opened at $83.06, below the analyst consensus target of $94.71. Analyst sentiment remains cautious, with one Buy rating and four Holds, resulting in an overall “Hold” consensus.

Bank of New York Mellon Corp bought a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 718,648 shares of the basic materials company's stock, valued at approximately $57,894,000. Bank of New York Mellon Corp owned approximately 1.53% of Cal-Maine Foods at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CALM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cal-Maine Foods by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company's stock worth $2,218,000 after buying an additional 1,057 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Cal-Maine Foods by 100.8% in the first quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company's stock valued at $726,000 after buying an additional 4,009 shares in the last quarter. United Services Automobile Association bought a new position in Cal-Maine Foods in the 1st quarter valued at approximately $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Cal-Maine Foods by 10.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company's stock valued at $7,765,000 after acquiring an additional 7,736 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Cal-Maine Foods by 323.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,087 shares of the basic materials company's stock valued at $108,000 after purchasing an additional 830 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Trading Down 1.3%

Shares of NASDAQ:CALM opened at $83.06 on Thursday. The company has a 50-day moving average price of $84.08 and a 200-day moving average price of $81.32. Cal-Maine Foods, Inc. has a 12 month low of $71.92 and a 12 month high of $116.99. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 12.68 and a beta of 0.25.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.84). Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The company had revenue of $552.58 million during the quarter, compared to the consensus estimate of $563.83 million. During the same period in the previous year, the company earned $7.04 earnings per share. Cal-Maine Foods's quarterly revenue was down 49.9% on a year-over-year basis.

Wall Street Analyst Weigh In

CALM has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $100.00 price objective on Cal-Maine Foods in a research note on Tuesday, May 26th. Wall Street Zen downgraded Cal-Maine Foods from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Stephens decreased their target price on Cal-Maine Foods from $90.00 to $85.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 14th. Wells Fargo & Company set a $100.00 price objective on shares of Cal-Maine Foods in a report on Monday, July 13th. Finally, Weiss Ratings lowered Cal-Maine Foods from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Cal-Maine Foods presently has an average 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.

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