Citigroup Inc. Buys 5,055 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Citigroup Inc. increased its investment in Cal-Maine Foods, acquiring an additional 5,055 shares, boosting its total holdings by 7.2% to 75,031 shares, valued at approximately $6.82 million.
• Several institutional investors significantly raised their stakes in Cal-Maine, with increases of up to 11,328.9%, contributing to an overall institutional ownership of 84.67% in the company.
• Analysts have varying outlooks on Cal-Maine Foods, with price targets ranging from $105 to $115, and recent earnings showing a strong performance with a reported earnings per share of $7.04, surpassing estimates.

Citigroup Inc. raised its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 7.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,031 shares of the basic materials company's stock after purchasing an additional 5,055 shares during the quarter. Citigroup Inc. owned approximately 0.15% of Cal-Maine Foods worth $6,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in shares of Cal-Maine Foods in the first quarter worth about $30,000. Investment Management Corp VA ADV increased its stake in Cal-Maine Foods by 172.2% during the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 248 shares during the period. Blue Trust Inc. increased its stake in Cal-Maine Foods by 388.2% during the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after acquiring an additional 493 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Cal-Maine Foods in the 1st quarter valued at approximately $77,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Cal-Maine Foods by 126.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 513 shares during the period. Institutional investors and hedge funds own 84.67% of the company's stock.

Cal-Maine Foods Price Performance

CALM traded down $0.80 during trading on Thursday, hitting $113.40. 320,682 shares of the stock traded hands, compared to its average volume of 964,918. Cal-Maine Foods, Inc. has a twelve month low of $68.22 and a twelve month high of $126.40. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 4.54 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 (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings data 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. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $877.03 million. During the same period in the prior year, the firm posted $2.32 EPS. The firm's quarterly revenue was up 72.1% compared to the same quarter last year. On average, equities research analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BMO Capital Markets upped their price objective on 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. Wall Street Zen lowered Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. The Goldman Sachs Group began coverage on Cal-Maine Foods in a research report on Thursday, August 14th. They set a "neutral" rating and a $110.00 price target on the stock. Finally, Stephens upped their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Cal-Maine Foods has an average rating of "Hold" and an average target price of $110.00.

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.