Cetera Investment Advisers Boosts Stock Position in Cal-Maine Foods, Inc. $CALM

Key Points

• Cetera Investment Advisers increased its Cal-Maine Foods stake by 36.3% in the first quarter, reaching 44,621 shares valued at approximately $3.5 million. Institutional investors collectively own 84.67% of the company.
• Cal-Maine Foods reported a weak quarter, posting a loss of $0.76 per share versus analyst expectations for $0.08 in earnings. Revenue fell 49.9% year over year to $552.6 million, below estimates.
• Analysts remain cautious, with the stock carrying a consensus “Hold” rating and an average price target of $94.71. Shares recently opened at $85.67, while price targets range from $83 to $100.

Cetera Investment Advisers raised its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 36.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,621 shares of the basic materials company's stock after buying an additional 11,888 shares during the period. Cetera Investment Advisers owned about 0.09% of Cal-Maine Foods worth $3,532,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Cal-Maine Foods by 3,014.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 623,571 shares of the basic materials company's stock worth $49,618,000 after purchasing an additional 603,551 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Cal-Maine Foods during the fourth quarter worth approximately $28,864,000. First Trust Advisors LP raised its holdings in Cal-Maine Foods by 29.7% during the first quarter. First Trust Advisors LP now owns 1,552,297 shares of the basic materials company's stock worth $122,864,000 after purchasing an additional 355,762 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Cal-Maine Foods by 13.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,519,483 shares of the basic materials company's stock worth $199,416,000 after buying an additional 300,910 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Cal-Maine Foods by 533.2% during the 4th quarter. Millennium Management LLC now owns 348,762 shares of the basic materials company's stock worth $27,751,000 after buying an additional 293,684 shares during the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Stock Performance

Shares of Cal-Maine Foods stock opened at $85.67 on Thursday. The company has a market capitalization of $4.02 billion, a P/E ratio of 13.08 and a beta of 0.25. Cal-Maine Foods, Inc. has a 1 year low of $71.92 and a 1 year high of $117.45. The company's fifty day moving average is $82.37 and its two-hundred day moving average is $81.24.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced 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). Cal-Maine Foods had a net margin of 10.88% and a return on equity of 11.79%. The business had revenue of $552.58 million during the quarter, compared to analysts' expectations of $563.83 million. During the same period in the previous year, the company posted $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

A number of research analysts recently commented on CALM shares. Stephens dropped their target price on shares of Cal-Maine Foods from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 14th. BMO Capital Markets upped 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 note on Thursday, July 23rd. Royal Bank Of Canada set a $100.00 price objective on Cal-Maine Foods in a report on Tuesday, May 26th. Wall Street Zen cut Cal-Maine Foods from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Finally, Wells Fargo & Company set a $100.00 target price on Cal-Maine Foods in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $94.71.

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. 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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