Vestcor Inc Has $7.06 Million Holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Key Points

• Vestcor Inc significantly increased its stake in Cal-Maine Foods by 96.9%, now owning 77,693 shares worth approximately $7.06 million.
• Cal-Maine Foods reported strong quarterly earnings with an EPS of $7.04, surpassing expectations and marking a 72.1% revenue growth year-over-year.
• Analysts have increased price targets for Cal-Maine Foods, with BMO Capital Markets raising it from $100.00 to $105.00, and Stephens moving it from $108.00 to $115.00.

Vestcor Inc increased its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 96.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,693 shares of the basic materials company's stock after acquiring an additional 38,235 shares during the quarter. Vestcor Inc owned about 0.16% of Cal-Maine Foods worth $7,062,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. XTX Topco Ltd lifted its stake in Cal-Maine Foods by 35.9% in the first quarter. XTX Topco Ltd now owns 10,321 shares of the basic materials company's stock valued at $938,000 after buying an additional 2,725 shares in the last quarter. GSA Capital Partners LLP bought a new position in Cal-Maine Foods in the first quarter valued at approximately $2,916,000. Cozad Asset Management Inc. lifted its stake in Cal-Maine Foods by 3.0% in the first quarter. Cozad Asset Management Inc. now owns 30,339 shares of the basic materials company's stock valued at $2,758,000 after buying an additional 892 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Cal-Maine Foods in the first quarter valued at approximately $102,000. Finally, JSF Financial LLC bought a new position in Cal-Maine Foods in the first quarter valued at approximately $868,000. Institutional investors own 84.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CALM shares. 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 research note on Thursday, July 24th. Wall Street Zen lowered shares of Cal-Maine Foods from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, 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 report on Thursday, July 24th.

Cal-Maine Foods Price Performance

NASDAQ CALM traded down $3.26 on Friday, hitting $107.88. 926,680 shares of the stock were exchanged, compared to its average volume of 1,016,194. The business's fifty day moving average is $101.30 and its 200 day moving average is $97.87. Cal-Maine Foods, Inc. has a 52 week low of $67.40 and a 52 week high of $126.40. The company has a market capitalization of $5.29 billion, a PE ratio of 4.32 and a beta of 0.19.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings data 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 company 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 company's revenue was up 72.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.32 earnings per share. Analysts predict 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.