Jupiter Asset Management Ltd. Purchases 375,604 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• Jupiter Asset Management Ltd. increased its stake in Cal-Maine Foods by 336.5%, now owning approximately 487,214 shares worth $44.29 million following a significant acquisition during the first quarter.
• Cal-Maine Foods reported earnings of $7.04 per share, exceeding analyst estimates by $1.75, with revenues soaring 72.1% year-over-year to $1.10 billion.
• The stock currently has a market cap of $5.29 billion, and shares are down 2.9%, with a P/E ratio of 4.32 and a 52-week price range between $67.40 and $126.40.

Jupiter Asset Management Ltd. increased its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 336.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 487,214 shares of the basic materials company's stock after acquiring an additional 375,604 shares during the period. Jupiter Asset Management Ltd. owned about 0.99% of Cal-Maine Foods worth $44,288,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Financial Management Professionals Inc. acquired a new position in Cal-Maine Foods in the first quarter valued at approximately $30,000. Investment Management Corp VA ADV lifted its holdings in Cal-Maine Foods by 172.2% in the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock valued at $36,000 after buying an additional 248 shares during the period. Blue Trust Inc. increased its stake in Cal-Maine Foods by 388.2% in the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after purchasing an additional 493 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in Cal-Maine Foods in the first quarter valued at approximately $77,000. Finally, Harbor Capital Advisors Inc. increased its stake in Cal-Maine Foods by 126.0% in the first quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock valued at $84,000 after purchasing an additional 513 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CALM. BMO Capital Markets upped 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 note on Thursday, July 24th. 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. Finally, Stephens raised 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 report on Thursday, July 24th.

Cal-Maine Foods Stock Down 0.5%

Shares of NASDAQ:CALM traded down $0.55 during midday trading on Wednesday, reaching $104.49. 524,918 shares of the company were exchanged, compared to its average volume of 983,249. Cal-Maine Foods, Inc. has a fifty-two week low of $68.22 and a fifty-two week high of $126.40. The stock has a fifty day simple moving average of $101.66 and a two-hundred day simple moving average of $97.75. The firm has a market cap of $5.12 billion, a PE ratio of 4.19 and a beta of 0.19.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its earnings results 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. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $877.03 million. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The firm's revenue for the quarter was up 72.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.32 earnings per share. As a group, analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share 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.