Bayforest Capital Ltd Has $525,000 Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• Bayforest Capital Ltd significantly increased its holdings in Cal-Maine Foods, Inc. by 3,779.2%, acquiring an additional 5,631 shares to bring its total ownership to 5,780 shares valued at $525,000.
• The company's quarterly earnings report showed $7.04 EPS, surpassing analysts' expectations of $5.29, with revenues of $1.10 billion, up 72.1% year-over-year.
• Multiple investment firms have adjusted their price targets for Cal-Maine Foods, with Stephens raising it from $108.00 to $115.00 and BMO Capital Markets increasing it from $100.00 to $105.00.

Bayforest Capital Ltd lifted its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 3,779.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,780 shares of the basic materials company's stock after buying an additional 5,631 shares during the quarter. Bayforest Capital Ltd's holdings in Cal-Maine Foods were worth $525,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CALM. Man Group plc raised its holdings in shares of Cal-Maine Foods by 258.7% in the fourth quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock valued at $59,973,000 after buying an additional 420,247 shares during the last quarter. Millennium Management LLC increased its position in Cal-Maine Foods by 515.1% in the fourth quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company's stock worth $49,142,000 after purchasing an additional 399,848 shares during the period. Northern Trust Corp increased its position in Cal-Maine Foods by 60.2% in the fourth quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock worth $69,403,000 after purchasing an additional 253,310 shares during the period. GAMMA Investing LLC increased its position in Cal-Maine Foods by 11,328.9% in the first quarter. GAMMA Investing LLC now owns 156,348 shares of the basic materials company's stock worth $14,212,000 after purchasing an additional 154,980 shares during the period. Finally, Burney Co. acquired a new stake in Cal-Maine Foods in the first quarter worth about $11,042,000. 84.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stephens lifted their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Wall Street Zen lowered Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, BMO Capital Markets lifted their price objective on 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.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock traded down $0.59 during trading on Monday, hitting $104.94. 360,294 shares of the company were exchanged, compared to its average volume of 981,126. The firm has a market capitalization of $5.15 billion, a P/E ratio of 4.21 and a beta of 0.19. Cal-Maine Foods, Inc. has a 1-year low of $67.40 and a 1-year high of $126.40. The firm's fifty day moving average price is $101.30 and its 200 day moving average price is $97.77.

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

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.