KBC Group NV Cuts Position in Cal-Maine Foods, Inc. $CALM

KBC Group NV decreased its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 75.2% in the 1st quarter, Holdings Channel reports. The firm owned 3,467 shares of the basic materials company’s stock after selling 10,524 shares during the quarter. KBC Group NV’s holdings in Cal-Maine Foods were worth $274,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Cal-Maine Foods during the 4th quarter valued at approximately $6,244,000. Assetmark Inc. boosted its stake in shares of Cal-Maine Foods by 36.6% during the 4th quarter. Assetmark Inc. now owns 118,773 shares of the basic materials company’s stock worth $9,451,000 after acquiring an additional 31,826 shares in the last quarter. UBS Group AG grew its holdings in shares of Cal-Maine Foods by 17.3% in the 4th quarter. UBS Group AG now owns 405,459 shares of the basic materials company’s stock worth $32,262,000 after acquiring an additional 59,659 shares during the period. Directional Asset Management acquired a new stake in shares of Cal-Maine Foods in the 4th quarter worth approximately $1,094,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Cal-Maine Foods by 46.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 38,853 shares of the basic materials company’s stock worth $3,092,000 after acquiring an additional 12,248 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analysts Set New Price Targets

CALM has been the subject of several research reports. BMO Capital Markets lifted their price objective on Cal-Maine Foods from $75.00 to $83.00 and gave the stock a “market perform” rating in a report on Thursday. Wall Street Zen lowered Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings cut Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research report on Monday, July 13th. Finally, Stephens cut their price target on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $94.71.

Cal-Maine Foods Price Performance

Shares of CALM opened at $90.32 on Monday. The firm has a 50 day simple moving average of $80.57 and a 200-day simple moving average of $80.50. Cal-Maine Foods, Inc. has a 1-year low of $71.92 and a 1-year high of $117.45. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 13.79 and a beta of 0.25.

Cal-Maine Foods (NASDAQ:CALM) 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 the consensus estimate of $0.08 by ($0.84). Cal-Maine Foods had a return on equity of 11.79% and a net margin of 10.88%.The company had revenue of $552.58 million for the quarter, compared to analyst estimates of $563.83 million. During the same quarter in the prior year, the firm earned $7.04 earnings per share. The company’s revenue for the quarter was down 49.9% on a year-over-year basis.

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. 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.