Dimensional Fund Advisors LP Sells 207,899 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Dimensional Fund Advisors LP reduced its stake in Cal-Maine Foods by 9.0%, selling 207,899 shares and holding approximately 2.1 million shares valued at $191.4 million.
• Recent analyst reports have increased price targets for Cal-Maine Foods, with BMO Capital Markets raising its price objective from $100.00 to $105.00 and Goldman Sachs setting a $110.00 neutral rating.
• Cal-Maine Foods reported a quarterly earnings per share of $7.04, exceeding estimates, with revenue of $1.10 billion reflecting a 72.1% year-over-year increase.

Dimensional Fund Advisors LP lowered its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 9.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,105,579 shares of the basic materials company's stock after selling 207,899 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.29% of Cal-Maine Foods worth $191,396,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Cal-Maine Foods by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,945,681 shares of the basic materials company's stock worth $449,562,000 after purchasing an additional 40,075 shares in the last quarter. Northern Trust Corp increased its position in shares of Cal-Maine Foods by 60.2% during the 4th quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock worth $69,403,000 after purchasing an additional 253,310 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cal-Maine Foods by 3.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 664,304 shares of the basic materials company's stock worth $60,385,000 after purchasing an additional 20,174 shares in the last quarter. Man Group plc increased its position in shares of Cal-Maine Foods by 258.7% during the 4th quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock worth $59,973,000 after purchasing an additional 420,247 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Cal-Maine Foods by 8.7% during the 1st quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company's stock worth $51,159,000 after purchasing an additional 45,201 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CALM shares. Stephens increased 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. Wall Street Zen cut shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Saturday. BMO Capital Markets increased their target price 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. Finally, The Goldman Sachs Group started coverage on shares of Cal-Maine Foods in a research report on Thursday, August 14th. They issued a "neutral" rating and a $110.00 price objective for the company. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $110.00.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM traded up $2.79 during mid-day trading on Friday, hitting $116.04. The company's stock had a trading volume of 740,608 shares, compared to its average volume of 855,830. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 4.65 and a beta of 0.19. Cal-Maine Foods, Inc. has a one year low of $68.22 and a one year high of $126.40. The company's fifty day simple moving average is $105.26 and its 200-day simple moving average is $97.60.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $1.75. The company 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 company's revenue for the quarter was up 72.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.32 EPS. On average, sell-side analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

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.