Invesco Ltd. Acquires 41,881 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Invesco Ltd. increased its stake in Cal-Maine Foods, acquiring 41,881 additional shares to reach a total of 544,760 shares, representing about 1.11% of the company valued at $49.5 million.
• Cal-Maine Foods reported a significant earnings per share of $7.04 for the last quarter, which exceeded analysts' expectations by $1.75, with a revenue increase of 72.1% year-over-year.
• Analysts have set varying price targets for Cal-Maine Foods, with Goldman Sachs initiating a coverage rating of "neutral" at $110, while BMO Capital Markets raised its target to $105.

Invesco Ltd. raised its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 8.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,760 shares of the basic materials company's stock after buying an additional 41,881 shares during the quarter. Invesco Ltd. owned about 1.11% of Cal-Maine Foods worth $49,519,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in 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 valued at $449,562,000 after buying an additional 40,075 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Cal-Maine Foods by 60.2% in the 4th quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock valued at $69,403,000 after purchasing an additional 253,310 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Cal-Maine Foods by 3.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 664,304 shares of the basic materials company's stock valued at $60,385,000 after purchasing an additional 20,174 shares during the last quarter. Man Group plc lifted its stake in shares of Cal-Maine Foods by 258.7% in the 4th 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 last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Cal-Maine Foods by 8.7% in the 1st quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company's stock valued at $51,159,000 after purchasing an additional 45,201 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Trading Up 2.1%

Shares of CALM stock traded up $2.43 on Friday, reaching $115.68. 161,945 shares of the company's stock were exchanged, compared to its average volume of 962,146. Cal-Maine Foods, Inc. has a 52 week low of $68.22 and a 52 week high of $126.40. The stock has a market capitalization of $5.67 billion, a PE ratio of 4.63 and a beta of 0.19. The company's fifty day simple moving average is $104.86 and its 200 day simple moving average is $97.68.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.29 by $1.75. Cal-Maine Foods had a return on equity of 54.81% and a net margin of 28.63%.The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $877.03 million. During the same period last year, the company earned $2.32 EPS. Cal-Maine Foods's quarterly revenue was up 72.1% compared to the same quarter last year. 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 Upgrades and Downgrades

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

About Cal-Maine Foods

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.