Russell Investments Group Ltd. Grows Stock Position in Cal-Maine Foods, Inc. $CALM

Key Points

• Russell Investments Group Ltd. increased its holdings in Cal-Maine Foods by 154%, acquiring an additional 49,742 shares for a total of 82,037 shares valued at approximately $7.46 million.
• Institutional investors currently own about 84.67% of Cal-Maine Foods, with several hedge funds significantly boosting their positions in recent quarters.
• Cal-Maine Foods reported a 72.1% year-over-year revenue increase for the recent quarter, with earnings per share exceeding analyst estimates by $1.75.

Russell Investments Group Ltd. lifted its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 154.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,037 shares of the basic materials company's stock after acquiring an additional 49,742 shares during the period. Russell Investments Group Ltd. owned 0.17% of Cal-Maine Foods worth $7,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Man Group plc lifted its holdings in shares of Cal-Maine Foods by 258.7% during the fourth quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock worth $59,973,000 after purchasing an additional 420,247 shares during the period. Millennium Management LLC raised its position in Cal-Maine Foods by 515.1% during the 4th quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company's stock worth $49,142,000 after buying an additional 399,848 shares during the last quarter. Nuveen LLC purchased a new position in Cal-Maine Foods during the 1st quarter worth approximately $35,322,000. Jupiter Asset Management Ltd. boosted its holdings in shares of Cal-Maine Foods by 336.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company's stock valued at $44,288,000 after acquiring an additional 375,604 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Cal-Maine Foods by 60.2% in the fourth quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock worth $69,403,000 after acquiring an additional 253,310 shares during the period. Institutional investors and hedge funds own 84.67% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CALM shares. Wall Street Zen downgraded shares of Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. 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 report on Thursday, July 24th. The Goldman Sachs Group started coverage on Cal-Maine Foods in a report on Thursday, August 14th. They set a "neutral" rating and a $110.00 target price on the stock. Finally, Stephens lifted their price target on Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $110.00.

Cal-Maine Foods Stock Performance

Shares of NASDAQ:CALM traded up $2.79 during midday trading on Friday, reaching $116.04. 740,608 shares of the company's stock traded hands, compared to its average volume of 884,805. The company has a fifty day simple moving average of $105.26 and a two-hundred day simple moving average of $97.74. Cal-Maine Foods, Inc. has a 1 year low of $68.22 and a 1 year high of $126.40. The company has a market cap of $5.69 billion, a P/E ratio of 4.65 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 EPS for the quarter, topping the consensus estimate of $5.29 by $1.75. The company had revenue of $1.10 billion during 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 firm's revenue was up 72.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.32 EPS. As a group, research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

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.