Nuveen LLC Invests $35.32 Million in Cal-Maine Foods, Inc. $CALM

Key Points

• Nuveen LLC has acquired a new position in Cal-Maine Foods, Inc., purchasing 388,576 shares valued at approximately $35.3 million, representing 0.79% ownership in the company.
• Cal-Maine Foods reported impressive earnings with $7.04 earnings per share (EPS) for the quarter, exceeding expectations, and indicating a 72.1% year-over-year revenue growth.
• Research analysts have set new price targets for Cal-Maine Foods, with Goldman Sachs maintaining a "neutral" rating and a target of $110.00, while Stephens upped their target to $115.00.

Nuveen LLC bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 388,576 shares of the basic materials company's stock, valued at approximately $35,322,000. Nuveen LLC owned 0.79% of Cal-Maine Foods at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Evergreen Capital Management LLC increased its stake in shares of Cal-Maine Foods by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 5,755 shares of the basic materials company's stock valued at $592,000 after purchasing an additional 97 shares during the last quarter. Two Sigma Securities LLC grew its position in shares of Cal-Maine Foods by 2.8% in the 4th quarter. Two Sigma Securities LLC now owns 3,894 shares of the basic materials company's stock valued at $401,000 after buying an additional 106 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of Cal-Maine Foods by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,290 shares of the basic materials company's stock valued at $442,000 after buying an additional 136 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Cal-Maine Foods by 0.3% in the 4th quarter. Captrust Financial Advisors now owns 55,892 shares of the basic materials company's stock valued at $5,752,000 after buying an additional 163 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Cal-Maine Foods by 8.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,511 shares of the basic materials company's stock valued at $228,000 after buying an additional 191 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Stock Up 2.6%

NASDAQ:CALM traded up $2.82 during trading hours on Wednesday, hitting $112.88. 322,040 shares of the company's stock traded hands, compared to its average volume of 966,013. The firm has a market cap of $5.54 billion, a P/E ratio of 4.53 and a beta of 0.19. Cal-Maine Foods, Inc. has a 52 week low of $68.22 and a 52 week high of $126.40. The business's fifty day simple moving average is $104.06 and its two-hundred day simple moving average is $97.52.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $877.03 million. During the same quarter last year, the company earned $2.32 earnings per share. The firm's quarterly revenue was up 72.1% on a year-over-year basis. On average, analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on CALM shares. Wall Street Zen lowered Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. The Goldman Sachs Group began coverage on Cal-Maine Foods in a research report on Thursday, August 14th. They issued a "neutral" rating and a $110.00 price target on the stock. BMO Capital Markets boosted 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. Finally, Stephens boosted 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. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $110.00.

Cal-Maine Foods 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.