Quantbot Technologies LP Buys New Stake in Cal-Maine Foods, Inc. $CALM

Key Points

• Quantbot Technologies LP has acquired a new stake in Cal-Maine Foods, purchasing 31,463 shares valued at approximately $2.86 million during the first quarter.
• Cal-Maine Foods reported a strong quarterly performance, with earnings per share (EPS) of $7.04, significantly exceeding analysts' expectations of $5.29.
• Hedge funds and institutional investors own around 84.67% of Cal-Maine Foods’ stock, indicating strong investor interest in the company.

Quantbot Technologies LP acquired a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,463 shares of the basic materials company's stock, valued at approximately $2,860,000. Quantbot Technologies LP owned 0.06% of Cal-Maine Foods as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Cal-Maine Foods during the first quarter valued at approximately $527,000. Bank of New York Mellon Corp lifted its stake in shares of Cal-Maine Foods by 8.7% during the first 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 buying an additional 45,201 shares during the period. KBC Group NV lifted its stake in shares of Cal-Maine Foods by 23.2% during the first quarter. KBC Group NV now owns 2,071 shares of the basic materials company's stock valued at $188,000 after buying an additional 390 shares during the period. GAMMA Investing LLC lifted its stake in shares of Cal-Maine Foods by 25.7% during the first quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company's stock valued at $156,000 after buying an additional 352 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Cal-Maine Foods during the fourth quarter worth approximately $1,123,000. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Trading Down 0.5%

Shares of CALM traded down $0.56 during mid-day trading on Tuesday, reaching $114.88. The company had a trading volume of 125,984 shares, compared to its average volume of 958,377. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 4.60 and a beta of 0.19. The firm has a fifty day simple moving average of $105.56 and a 200-day simple moving average of $97.65. Cal-Maine Foods, Inc. has a fifty-two week low of $68.22 and a fifty-two week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share for the quarter, beating the consensus estimate of $5.29 by $1.75. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $877.03 million. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The business's quarterly revenue was up 72.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.32 EPS. As a group, equities analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CALM shares. Stephens lifted their price target 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. Wall Street Zen lowered shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a report on Saturday. BMO Capital Markets lifted their price target on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group started coverage on shares of Cal-Maine Foods in a report on Thursday, August 14th. They issued a "neutral" rating and a $110.00 price target on the stock. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $110.00.

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.