VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3.18 Million in Cal-Maine Foods, Inc. $CALM

Key Points

• Virginia Retirement Systems purchased 39,495 shares of Cal-Maine Foods worth approximately $3.18 million, while institutional investors collectively own 84.67% of the company.
• Cal-Maine Foods reported a steep earnings decline, posting a quarterly loss of $0.76 per share and revenue of $552.58 million, down 49.9% year over year and below analyst expectations.
• Analysts maintain a consensus “Hold” rating with an average price target of $94.71, although the stock recently traded near $73.71 after falling substantially below its 52-week high of $111.76.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,495 shares of the basic materials company's stock, valued at approximately $3,182,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.08% of Cal-Maine Foods as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in shares of Cal-Maine Foods by 7,727.9% during the 2nd quarter. California State Teachers Retirement System now owns 4,007,941 shares of the basic materials company's stock valued at $322,880,000 after purchasing an additional 3,956,740 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Cal-Maine Foods in the second quarter worth about $57,894,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Cal-Maine Foods by 3,014.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 623,571 shares of the basic materials company's stock worth $49,618,000 after buying an additional 603,551 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Cal-Maine Foods in the fourth quarter worth about $28,864,000. Finally, First Trust Advisors LP lifted its position in shares of Cal-Maine Foods by 29.7% in the first quarter. First Trust Advisors LP now owns 1,552,297 shares of the basic materials company's stock worth $122,864,000 after buying an additional 355,762 shares in the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM opened at $73.71 on Friday. The business's 50 day moving average is $83.50 and its two-hundred day moving average is $80.85. Cal-Maine Foods, Inc. has a 1-year low of $71.92 and a 1-year high of $111.76. The stock has a market capitalization of $3.46 billion, a P/E ratio of 11.25 and a beta of 0.23.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.84). The company had revenue of $552.58 million for the quarter, compared to analysts' expectations of $563.83 million. Cal-Maine Foods had a net margin of 10.88% and a return on equity of 11.79%. The company's revenue for the quarter was down 49.9% on a year-over-year basis. During the same quarter last year, the company earned $7.04 earnings per share.

Analyst Ratings Changes

Several equities analysts have weighed in on CALM shares. Royal Bank Of Canada set a $100.00 price target on Cal-Maine Foods in a report on Tuesday, May 26th. Wall Street Zen downgraded Cal-Maine Foods from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. BMO Capital Markets raised their target price on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the company a "market perform" rating in a report on Thursday, July 23rd. Stephens reduced their price target on shares of Cal-Maine Foods from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a research note on Monday, July 13th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $94.71.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.

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