Cal-Maine Foods, Inc. $CALM Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management raised its stake in Cal-Maine Foods by 3.1%, now owning approximately 1.35% of the company, valued at $60.4 million.
• Cal-Maine Foods reported earnings per share of $7.04 for the last quarter, significantly exceeding estimates, with revenue increasing 72.1% year-over-year.
• The stock has a market capitalization of $5.43 billion and a P/E ratio of 4.43, reflecting a strong financial position amidst rising prices for its products.

Charles Schwab Investment Management Inc. boosted its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 664,304 shares of the basic materials company's stock after purchasing an additional 20,174 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.35% of Cal-Maine Foods worth $60,385,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CALM. Wells Fargo & Company MN increased its holdings in shares of Cal-Maine Foods by 14.6% in the 4th quarter. Wells Fargo & Company MN now owns 82,244 shares of the basic materials company's stock valued at $8,465,000 after purchasing an additional 10,505 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Cal-Maine Foods by 2.5% during the 4th quarter. Bank of Montreal Can now owns 10,338 shares of the basic materials company's stock worth $1,064,000 after purchasing an additional 255 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Cal-Maine Foods during the 4th quarter worth about $1,123,000. Synovus Financial Corp acquired a new stake in shares of Cal-Maine Foods in the fourth quarter worth approximately $256,000. Finally, Summit Investment Advisors Inc. boosted its position in shares of Cal-Maine Foods by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,290 shares of the basic materials company's stock worth $442,000 after acquiring an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CALM shares. Stephens raised their target price on shares of 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. The Goldman Sachs Group initiated coverage on shares of Cal-Maine Foods in a research note on Thursday, August 14th. They set a "neutral" rating and a $110.00 price objective on the stock. Wall Street Zen downgraded shares of Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, BMO Capital Markets raised 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. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Cal-Maine Foods has a consensus rating of "Hold" and a consensus target price of $110.00.

Cal-Maine Foods Trading Up 3.8%

Cal-Maine Foods stock traded up $4.14 during mid-day trading on Wednesday, reaching $114.20. The company's stock had a trading volume of 802,917 shares, compared to its average volume of 1,085,325. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 4.58 and a beta of 0.19. The business has a 50 day moving average price of $104.50 and a 200-day moving average price of $97.63. Cal-Maine Foods, Inc. has a twelve month low of $68.22 and a twelve month high of $126.40.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The basic materials company reported $7.04 EPS for the quarter, topping analysts' consensus estimates of $5.29 by $1.75. The firm 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 firm's revenue was up 72.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.32 earnings per share. On average, equities analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal 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.