Public Sector Pension Investment Board Purchases 50,235 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• The Public Sector Pension Investment Board increased its stake in Cal-Maine Foods, Inc. by 49.5% during the first quarter, acquiring an additional 50,235 shares for a total of approximately $13.78 million worth of shares.
• Cal-Maine Foods reported a quarterly earnings per share of $7.04, surpassing analysts' expectations by $1.75, and achieved a 72.1% year-over-year revenue increase.
• Several analysts have raised their price targets for Cal-Maine Foods, with BMO Capital Markets and Stephens setting new goals of $105.00 and $115.00 respectively.

Public Sector Pension Investment Board increased its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 49.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,623 shares of the basic materials company's stock after acquiring an additional 50,235 shares during the quarter. Public Sector Pension Investment Board owned about 0.31% of Cal-Maine Foods worth $13,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in Cal-Maine Foods in the 1st quarter worth approximately $30,000. Investment Management Corp VA ADV raised its position in shares of Cal-Maine Foods by 172.2% during 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 last quarter. Blue Trust Inc. raised its position in shares of Cal-Maine Foods by 388.2% during the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after buying an additional 493 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Cal-Maine Foods during the first quarter valued at approximately $77,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Cal-Maine Foods by 126.0% during the first quarter. Harbor Capital Advisors Inc. now owns 920 shares of the basic materials company's stock valued at $84,000 after buying an additional 513 shares during the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CALM shares. The Goldman Sachs Group started coverage on shares of Cal-Maine Foods in a research report on Thursday. They set a "neutral" rating and a $110.00 price objective on the stock. BMO Capital Markets lifted their price objective on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Wall Street Zen downgraded Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Stephens raised their target price on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th.

Cal-Maine Foods Stock Up 2.5%

CALM traded up $2.66 during trading on Friday, reaching $110.65. The company had a trading volume of 1,086,131 shares, compared to its average volume of 1,094,971. The stock has a market cap of $5.43 billion, a P/E ratio of 4.43 and a beta of 0.19. The business has a 50 day simple moving average of $103.56 and a 200-day simple moving average of $97.65. Cal-Maine Foods, Inc. has a 52 week low of $68.22 and a 52 week high of $126.40.

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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $877.03 million. During the same period last year, the company earned $2.32 earnings per share. Cal-Maine Foods's revenue was up 72.1% on a year-over-year basis. As a group, equities research analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

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.