Cetera Investment Advisers Increases Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• Cetera Investment Advisers increased its holdings in Cal-Maine Foods by 23.8% during the 1st quarter, acquiring an additional 3,931 shares and bringing its total to 20,440 shares worth approximately $1.86 million.
• Cal-Maine Foods reported earnings per share of $7.04 for the recent quarter, significantly exceeding the consensus estimate of $5.29, with revenues reaching $1.10 billion compared to expectations of $877 million.
• Research analysts have raised their price targets for Cal-Maine Foods, with BMO Capital Markets setting a new target of $105.00 and Stephens increasing theirs to $115.00.

Cetera Investment Advisers lifted its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 23.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,440 shares of the basic materials company's stock after buying an additional 3,931 shares during the period. Cetera Investment Advisers' holdings in Cal-Maine Foods were worth $1,858,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CALM. Avantax Advisory Services Inc. increased its position in shares of Cal-Maine Foods by 7.3% during the first quarter. Avantax Advisory Services Inc. now owns 7,238 shares of the basic materials company's stock worth $658,000 after acquiring an additional 490 shares during the period. Royce & Associates LP boosted its stake in shares of Cal-Maine Foods by 65.4% during the first quarter. Royce & Associates LP now owns 14,880 shares of the basic materials company's stock valued at $1,353,000 after purchasing an additional 5,882 shares in the last quarter. Burney Co. bought a new position in shares of Cal-Maine Foods during the first quarter valued at approximately $11,042,000. Convergence Investment Partners LLC bought a new position in shares of Cal-Maine Foods during the first quarter valued at approximately $2,187,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Cal-Maine Foods during the first quarter valued at approximately $3,116,000. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Trading Up 0.3%

Shares of NASDAQ CALM traded up $0.31 during midday trading on Tuesday, reaching $107.84. The company had a trading volume of 341,445 shares, compared to its average volume of 974,448. The business's 50-day simple moving average is $102.56 and its 200 day simple moving average is $97.51. The stock has a market cap of $5.29 billion, a P/E ratio of 4.32 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 posted its quarterly earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.29 by $1.75. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $877.03 million. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The business's quarterly revenue was up 72.1% on a year-over-year basis. During the same quarter last year, the company posted $2.32 earnings per share. Analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CALM. Wall Street Zen downgraded shares of Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. 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. Finally, BMO Capital Markets raised their target price on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th.

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.