Cal-Maine Foods, Inc. $CALM Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its Cal-Maine Foods stake by 8.1% in the first quarter, selling 61,583 shares and ending with 697,727 shares valued at about $55.2 million.
• Cal-Maine Foods recently reported a much weaker quarter, posting EPS of -$0.76 versus expectations of $0.08 and revenue of $552.6 million, with sales down nearly 50% from a year earlier.
• Wall Street sentiment remains cautious: the stock has a consensus Hold rating and an average price target of $94.71, even as some firms adjusted targets and one analyst maintained a Buy rating.

Bank of New York Mellon Corp reduced its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 8.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 697,727 shares of the basic materials company's stock after selling 61,583 shares during the quarter. Bank of New York Mellon Corp owned 1.47% of Cal-Maine Foods worth $55,225,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its stake in shares of Cal-Maine Foods by 58.2% during the third quarter. IFP Advisors Inc now owns 378 shares of the basic materials company's stock worth $37,000 after purchasing an additional 139 shares during the last quarter. Pinnacle Holdings LLC purchased a new position in Cal-Maine Foods in the 4th quarter valued at $30,000. WealthCollab LLC grew its position in Cal-Maine Foods by 105.2% in the 4th quarter. WealthCollab LLC now owns 431 shares of the basic materials company's stock valued at $34,000 after buying an additional 221 shares during the last quarter. National Bank of Canada FI acquired a new position in Cal-Maine Foods in the 3rd quarter valued at $42,000. Finally, Signaturefd LLC increased its stake in Cal-Maine Foods by 46.5% in the 4th quarter. Signaturefd LLC now owns 488 shares of the basic materials company's stock valued at $39,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 84.67% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CALM. Stephens reduced their target price on shares of Cal-Maine Foods from $90.00 to $85.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 14th. Royal Bank Of Canada set a $100.00 price target on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a report on Monday, July 13th. BMO Capital Markets raised their price objective on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the company a "market perform" rating in a research report on Thursday. Finally, Benchmark reaffirmed a "buy" rating on shares of Cal-Maine Foods in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $94.71.

Trending Headlines about Cal-Maine Foods

Here are the key news stories impacting Cal-Maine Foods this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Cal-Maine Foods from $75 to $83, but kept a market perform rating, suggesting the firm sees some valuation support even though it still implies downside from the current share price. Benzinga article
• Neutral Sentiment: Cal-Maine Foods was the target of unusually large options trading, indicating heightened investor attention after earnings, but not necessarily a clear directional catalyst. American Banking News article
• Neutral Sentiment: Analysts and commentary around the results focused on whether CALM is fairly valued after the earnings report and on management’s discussion of revenue declines and diversification efforts. Yahoo Finance article
• Negative Sentiment: Media coverage emphasized the surprise Q4 loss, low egg prices, and a significant drop in sales and margins, reinforcing the core reason for the stock’s weakness. Motley Fool article

Cal-Maine Foods Stock Performance

NASDAQ:CALM opened at $88.14 on Friday. The stock has a fifty day moving average price of $80.30 and a two-hundred day moving average price of $80.42. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 13.46 and a beta of 0.25. Cal-Maine Foods, Inc. has a 1 year low of $71.92 and a 1 year high of $119.17.

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

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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