Sprott Inc. Boosts Holdings in Cal-Maine Foods, Inc. $CALM

Key Points

• Sprott Inc. increased its stake in Cal-Maine Foods by 14.6% during the first quarter, owning a total of 131,800 shares worth approximately $11.98 million.
• Several institutional investors also significantly raised their holdings in Cal-Maine Foods, with Credit Agricole S A increasing its share by 355.2%.
• Cal-Maine Foods reported strong quarterly earnings of $7.04 EPS, surpassing analyst estimates and reflecting a 72.1% year-over-year revenue increase.

Sprott Inc. lifted its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 14.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 131,800 shares of the basic materials company's stock after purchasing an additional 16,800 shares during the period. Sprott Inc. owned about 0.27% of Cal-Maine Foods worth $11,981,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CALM. Raymond James Financial Inc. purchased a new stake in shares of Cal-Maine Foods in the 4th quarter worth approximately $1,123,000. Mariner LLC raised its stake in shares of Cal-Maine Foods by 6.5% during the 4th quarter. Mariner LLC now owns 10,373 shares of the basic materials company's stock worth $1,068,000 after acquiring an additional 631 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Cal-Maine Foods by 3.9% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 42,857 shares of the basic materials company's stock worth $4,411,000 after acquiring an additional 1,603 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Cal-Maine Foods by 2.7% during the 4th quarter. MetLife Investment Management LLC now owns 24,328 shares of the basic materials company's stock worth $2,504,000 after acquiring an additional 639 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Cal-Maine Foods by 6,005.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,396 shares of the basic materials company's stock worth $452,000 after acquiring an additional 4,324 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Stock Up 0.8%

Shares of NASDAQ:CALM traded up $0.96 during midday trading on Wednesday, reaching $115.95. The company's stock had a trading volume of 185,465 shares, compared to its average volume of 956,928. The stock has a fifty day moving average of $105.85 and a 200 day moving average of $97.77. Cal-Maine Foods, Inc. has a twelve month low of $68.22 and a twelve month high of $126.40. The firm has a market capitalization of $5.69 billion, a PE ratio of 4.65 and a beta of 0.19.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced 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 net margin of 28.63% and a return on equity of 54.81%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $877.03 million. During the same period in the prior year, the firm posted $2.32 earnings per share. The firm's quarterly revenue was up 72.1% compared to the same quarter last year. Sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on CALM shares. Stephens boosted 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 lowered shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday. The Goldman Sachs Group assumed coverage on shares of Cal-Maine Foods in a research note on Thursday, August 14th. They set a "neutral" rating and a $110.00 price objective for the company. Finally, BMO Capital Markets upped 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. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average 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.