Cal-Maine Foods, Inc. $CALM Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 16.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 158,508 shares of the basic materials company’s stock after selling 31,212 shares during the quarter. Royal Bank of Canada’s holdings in Cal-Maine Foods were worth $12,545,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CALM. Quantinno Capital Management LP boosted its holdings in Cal-Maine Foods by 5.4% during the 1st quarter. Quantinno Capital Management LP now owns 10,489 shares of the basic materials company’s stock valued at $830,000 after acquiring an additional 537 shares during the period. Hound Partners LLC increased its stake in Cal-Maine Foods by 163.6% during the first quarter. Hound Partners LLC now owns 203,851 shares of the basic materials company’s stock worth $16,135,000 after purchasing an additional 126,510 shares during the period. SummitTX Capital L.P. increased its stake in Cal-Maine Foods by 29.1% during the first quarter. SummitTX Capital L.P. now owns 20,417 shares of the basic materials company’s stock worth $1,616,000 after purchasing an additional 4,599 shares during the period. Cypress Capital Group lifted its position in shares of Cal-Maine Foods by 10.6% during the first quarter. Cypress Capital Group now owns 26,059 shares of the basic materials company’s stock worth $2,063,000 after purchasing an additional 2,503 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of Cal-Maine Foods by 52.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 51,507 shares of the basic materials company’s stock worth $4,077,000 after purchasing an additional 17,646 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. Wells Fargo & Company set a $100.00 target price on shares of Cal-Maine Foods in a research note on Monday, July 13th. Stephens reduced their target price on shares of Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 14th. Wall Street Zen cut shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, BMO Capital Markets boosted their price target on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the stock a “market perform” rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $94.71.

Cal-Maine Foods Stock Performance

Shares of CALM opened at $85.08 on Friday. 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 capitalization of $3.99 billion, a PE ratio of 12.99 and a beta of 0.25. The stock has a 50-day simple moving average of $82.75 and a 200-day simple moving average of $81.32.

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

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.