Cal-Maine Foods, Inc. (NASDAQ:CALM) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp has increased its stake in Cal-Maine Foods by 47.4%, acquiring 7,987 additional shares, bringing its total ownership to 24,823 shares valued at $2,256,000.
• Various institutional investors have also altered their positions in Cal-Maine Foods, with Bank of New York Mellon Corp increasing its holdings by 8.7%, now owning 562,810 shares worth $51,159,000.
• Cal-Maine Foods recently reported an earnings per share (EPS) of $7.04, significantly exceeding analysts' estimates of $5.29, with quarterly revenue reaching $1.10 billion, a 72.1% increase year-over-year.

Mackenzie Financial Corp raised its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 47.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,823 shares of the basic materials company's stock after buying an additional 7,987 shares during the quarter. Mackenzie Financial Corp owned about 0.05% of Cal-Maine Foods worth $2,256,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Cal-Maine Foods in the fourth quarter valued at approximately $6,132,000. Pictet Asset Management Holding SA raised its position in Cal-Maine Foods by 8.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,384 shares of the basic materials company's stock valued at $554,000 after purchasing an additional 402 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Cal-Maine Foods during the fourth quarter worth about $391,000. Wells Fargo & Company MN raised its holdings in Cal-Maine Foods by 14.6% in the fourth quarter. Wells Fargo & Company MN now owns 82,244 shares of the basic materials company's stock valued at $8,465,000 after acquiring an additional 10,505 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of Cal-Maine Foods in the 4th quarter valued at approximately $774,000. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Stock Performance

Cal-Maine Foods stock traded up $0.84 during midday trading on Thursday, hitting $105.29. 315,765 shares of the company's stock were exchanged, compared to its average volume of 980,550. Cal-Maine Foods, Inc. has a 12-month low of $68.22 and a 12-month high of $126.40. The firm's 50 day simple moving average is $101.88 and its 200 day simple moving average is $97.80. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 4.22 and a beta of 0.19.

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 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 in the previous year, the business posted $2.32 earnings per share. The business's revenue was up 72.1% compared to the same quarter last year. On average, equities research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Stephens raised their target price on 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 "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Finally, BMO Capital Markets boosted 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.