Hsbc Holdings PLC Sells 43,761 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Hsbc Holdings PLC cut its Cal-Maine Foods stake by 81.6% during the first quarter, selling 43,761 shares and retaining 9,847 shares valued at approximately $777,000. Institutional investors own 84.67% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $94.71; recent targets include $100 from RBC and Wells Fargo and $83 from BMO Capital Markets.
• Cal-Maine Foods reported a quarterly loss of $0.76 per share, missing estimates by $0.84, while revenue fell 49.9% year over year to $552.58 million. The stock opened at $93.50, near the consensus target.

Hsbc Holdings PLC reduced its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 81.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,847 shares of the basic materials company's stock after selling 43,761 shares during the period. Hsbc Holdings PLC's holdings in Cal-Maine Foods were worth $777,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in Cal-Maine Foods by 111.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,111 shares of the basic materials company's stock valued at $484,000 after acquiring an additional 3,226 shares in the last quarter. Integrated Advisors Network LLC bought a new position in shares of Cal-Maine Foods during the 1st quarter worth approximately $399,000. Abel Hall LLC bought a new position in shares of Cal-Maine Foods during the 1st quarter worth approximately $219,000. DGS Capital Management LLC raised its holdings in shares of Cal-Maine Foods by 6.7% in the first quarter. DGS Capital Management LLC now owns 2,932 shares of the basic materials company's stock valued at $232,000 after purchasing an additional 183 shares during the last quarter. Finally, Stephens Inc. AR acquired a new stake in shares of Cal-Maine Foods in the first quarter valued at approximately $1,383,000. 84.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Royal Bank Of Canada set a $100.00 price objective on shares of Cal-Maine Foods in a research report on Tuesday, May 26th. Benchmark reiterated a "buy" rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. BMO Capital Markets boosted their price target on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the stock a "market perform" rating in a research report on Thursday, July 23rd. Weiss Ratings cut shares of Cal-Maine Foods from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company set a $100.00 price objective on shares of Cal-Maine Foods in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Cal-Maine Foods presently has a consensus rating of "Hold" and a consensus target price of $94.71.

Cal-Maine Foods Stock Up 0.3%

NASDAQ:CALM opened at $93.50 on Thursday. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 14.27 and a beta of 0.25. Cal-Maine Foods, Inc. has a twelve month low of $71.92 and a twelve month high of $117.45. The stock's 50 day moving average price is $81.39 and its two-hundred day moving average price is $80.81.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported ($0.76) EPS for the quarter, missing the consensus estimate 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 company had revenue of $552.58 million during the quarter, compared to analyst estimates of $563.83 million. During the same period in the previous year, the company posted $7.04 EPS. The company's quarterly revenue was down 49.9% compared to the same quarter last 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. 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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