Deutsche Bank AG Sells 3,244 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Deutsche Bank AG reduced its stake in Cal-Maine Foods by 2.6%, owning 122,827 shares valued at approximately $11.17 million following the sale of 3,244 shares.
• Recent analyst ratings show varied opinions, with Goldman Sachs initiating coverage with a "neutral" rating and a price objective of $110.00, while Stephens raised their target from $108.00 to $115.00.
• Cal-Maine Foods reported a significant earnings beat for the last quarter, with an EPS of $7.04, surpassing estimates by $1.75 and achieving revenues of $1.10 billion, a 72.1% increase year-over-year.

Deutsche Bank AG lessened its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 2.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,827 shares of the basic materials company's stock after selling 3,244 shares during the period. Deutsche Bank AG owned 0.25% of Cal-Maine Foods worth $11,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CALM. Wells Fargo & Company MN raised its stake in Cal-Maine Foods by 14.6% during the fourth quarter. Wells Fargo & Company MN now owns 82,244 shares of the basic materials company's stock worth $8,465,000 after buying an additional 10,505 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Cal-Maine Foods by 29.9% during the fourth quarter. Russell Investments Group Ltd. now owns 32,295 shares of the basic materials company's stock worth $3,317,000 after buying an additional 7,426 shares during the last quarter. Bank of Montreal Can raised its stake in Cal-Maine Foods by 2.5% during the fourth quarter. Bank of Montreal Can now owns 10,338 shares of the basic materials company's stock worth $1,064,000 after buying an additional 255 shares during the last quarter. Raymond James Financial Inc. bought a new position in Cal-Maine Foods during the fourth quarter worth $1,123,000. Finally, Synovus Financial Corp bought a new position in Cal-Maine Foods during the fourth quarter worth $256,000. Institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Trading Down 1.6%

Shares of CALM stock traded down $1.74 during trading on Monday, reaching $108.91. 424,085 shares of the company's stock traded hands, compared to its average volume of 970,064. Cal-Maine Foods, Inc. has a 1 year low of $68.22 and a 1 year high of $126.40. The company has a market capitalization of $5.34 billion, a P/E ratio of 4.37 and a beta of 0.19. The firm's 50-day moving average is $103.56 and its 200 day moving average is $97.42.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates 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 revenue for the quarter was up 72.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.32 EPS. As a group, sell-side analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. 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 upped their price objective 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 began coverage on shares of Cal-Maine Foods in a research report on Thursday. They issued a "neutral" rating and a $110.00 price objective for the company. Finally, BMO Capital Markets increased 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 report 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.