Royce & Associates LP Purchases 5,882 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• Royce & Associates LP increased its stake in Cal-Maine Foods by 65.4%, acquiring an additional 5,882 shares, bringing its total holding to 14,880 shares valued at approximately $1.35 million.
• In the latest quarter, Cal-Maine Foods reported an earnings per share (EPS) of $7.04, exceeding analysts' expectations of $5.29, along with a revenue increase of 72.1% year-over-year.
• Several hedge funds have significantly increased their positions in Cal-Maine Foods, including Man Group plc, which raised its stake by 258.7% and now owns shares valued at nearly $60 million.

Royce & Associates LP increased its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 65.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,880 shares of the basic materials company's stock after acquiring an additional 5,882 shares during the quarter. Royce & Associates LP's holdings in Cal-Maine Foods were worth $1,353,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in Cal-Maine Foods during the fourth quarter worth about $1,123,000. Sei Investments Co. grew its stake in Cal-Maine Foods by 54.3% during the fourth quarter. Sei Investments Co. now owns 54,505 shares of the basic materials company's stock worth $5,610,000 after buying an additional 19,184 shares in the last quarter. Vanguard Group Inc. grew its stake in Cal-Maine Foods by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 4,905,606 shares of the basic materials company's stock worth $504,885,000 after buying an additional 118,162 shares in the last quarter. Norges Bank acquired a new stake in Cal-Maine Foods during the fourth quarter worth about $6,132,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Cal-Maine Foods during the fourth quarter worth about $453,000. 84.67% of the stock is owned by institutional investors.

Cal-Maine Foods Stock Performance

Shares of CALM traded down $2.90 during mid-day trading on Friday, reaching $108.24. The company had a trading volume of 329,753 shares, compared to its average volume of 981,548. The company's 50 day simple moving average is $101.05 and its 200 day simple moving average is $97.98. Cal-Maine Foods, Inc. has a 1-year low of $67.40 and a 1-year high of $126.40. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 4.35 and a beta of 0.17.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $877.03 million. During the same period last year, the company earned $2.32 EPS. The firm's revenue was up 72.1% compared to the same quarter last year. As a group, equities analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CALM. Stephens increased 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 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, BMO Capital Markets raised 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 research note 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.