Cal-Maine Foods, Inc. (NASDAQ:CALM) Shares Acquired by Independent Advisor Alliance

Key Points

• Independent Advisor Alliance increased its stake in Cal-Maine Foods by 21.3% during Q1, holding 13,746 shares valued at $1,250,000.
• Cal-Maine Foods reported earnings of $7.04 per share, significantly exceeding analysts' estimates, with a revenue increase of 72.1% year-over-year.
• Hedge funds now own 84.67% of Cal-Maine Foods' stock, indicating strong institutional interest in the company.

Independent Advisor Alliance grew its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 21.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,746 shares of the basic materials company's stock after purchasing an additional 2,416 shares during the period. Independent Advisor Alliance's holdings in Cal-Maine Foods were worth $1,250,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Cal-Maine Foods by 0.8% in the first 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 during the last quarter. Northern Trust Corp grew its holdings in shares of Cal-Maine Foods by 60.2% during the fourth quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock valued at $69,403,000 after buying an additional 253,310 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cal-Maine Foods by 3.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 664,304 shares of the basic materials company's stock valued at $60,385,000 after buying an additional 20,174 shares during the last quarter. Man Group plc lifted its position in Cal-Maine Foods by 258.7% during the fourth quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock valued at $59,973,000 after purchasing an additional 420,247 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Cal-Maine Foods by 8.7% in the first quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company's stock worth $51,159,000 after acquiring an additional 45,201 shares during the period. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Price Performance

Shares of CALM traded up $2.66 during midday trading on Friday, reaching $110.65. The stock had a trading volume of 1,086,131 shares, compared to its average volume of 973,719. Cal-Maine Foods, Inc. has a 1-year low of $68.22 and a 1-year high of $126.40. The company's fifty day simple moving average is $103.31 and its two-hundred day simple moving average is $97.66. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 4.43 and a beta of 0.19.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $877.03 million. During the same period last year, the business earned $2.32 EPS. The company's revenue was up 72.1% on a year-over-year basis. On average, sell-side analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on CALM. Stephens upped their price target 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 started coverage on shares of Cal-Maine Foods in a research note on Thursday. They issued a "neutral" rating and a $110.00 price target for the company. Wall Street Zen cut 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 increased their price objective 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.

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.