BI Asset Management Fondsmaeglerselskab A S Has $9.97 Million Stake in Cal-Maine Foods, Inc. $CALM

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Cal-Maine Foods by 242.6%, owning approximately 0.22% of the company with a value of $9.97 million.
• Cal-Maine Foods reported $7.04 earnings per share (EPS) for the last quarter, exceeding analyst expectations by $1.75 and demonstrating a 72.1% increase in revenue year-over-year.
• Research analysts have mixed outlooks, with BMO Capital Markets and Stephens adjusting their price targets to between $105.00 and $115.00, while Wall Street analysts currently hold an average rating of "Hold."

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 242.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 109,719 shares of the basic materials company's stock after acquiring an additional 77,695 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.22% of Cal-Maine Foods worth $9,973,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in shares of Cal-Maine Foods during the 1st quarter valued at $30,000. Investment Management Corp VA ADV increased its position in shares of Cal-Maine Foods by 172.2% in the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock valued at $36,000 after buying an additional 248 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Cal-Maine Foods in the 1st quarter valued at $52,000. Blue Trust Inc. increased its position in shares of Cal-Maine Foods by 388.2% in the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after buying an additional 493 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Cal-Maine Foods in the 1st quarter valued at $77,000. Institutional investors own 84.67% of the company's stock.

Wall Street Analyst Weigh In

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

Cal-Maine Foods Stock Up 0.4%

Shares of NASDAQ:CALM traded up $0.5150 during trading on Monday, hitting $116.5550. 165,444 shares of the company were exchanged, compared to its average volume of 960,992. The business's 50 day moving average is $105.26 and its 200-day moving average is $97.60. The company has a market capitalization of $5.72 billion, a P/E ratio of 4.67 and a beta of 0.19. Cal-Maine Foods, Inc. has a 1-year low of $68.22 and a 1-year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly 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 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 for the quarter was up 72.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.32 earnings per share. As a group, sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

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.