Front Street Capital Management Inc. Acquires New Holdings in Cal-Maine Foods, Inc. $CALM

Front Street Capital Management Inc. bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,740 shares of the basic materials company’s stock, valued at approximately $746,000.

Other institutional investors also recently modified their holdings of the company. UBS Group AG boosted its holdings in shares of Cal-Maine Foods by 17.3% during the 4th quarter. UBS Group AG now owns 405,459 shares of the basic materials company’s stock valued at $32,262,000 after acquiring an additional 59,659 shares in the last quarter. Bank of America Corp DE increased its holdings in Cal-Maine Foods by 21.9% in the 1st quarter. Bank of America Corp DE now owns 505,359 shares of the basic materials company’s stock worth $39,999,000 after purchasing an additional 90,779 shares in the last quarter. Bessemer Group Inc. raised its position in Cal-Maine Foods by 60.3% in the first quarter. Bessemer Group Inc. now owns 59,116 shares of the basic materials company’s stock valued at $4,680,000 after purchasing an additional 22,233 shares during the last quarter. Hound Partners LLC raised its position in Cal-Maine Foods by 163.6% in the first quarter. Hound Partners LLC now owns 203,851 shares of the basic materials company’s stock valued at $16,135,000 after purchasing an additional 126,510 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Cal-Maine Foods by 11,570.6% in the first quarter. Fifth Third Bancorp now owns 46,799 shares of the basic materials company’s stock valued at $3,704,000 after purchasing an additional 46,398 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Trading Up 2.2%

Shares of CALM opened at $84.60 on Tuesday. The company has a market capitalization of $3.97 billion, a PE ratio of 12.92 and a beta of 0.25. Cal-Maine Foods, Inc. has a 12 month low of $71.92 and a 12 month high of $117.45. The stock’s 50-day moving average price is $83.88 and its two-hundred day moving average price is $81.35.

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

Wall Street Analyst Weigh In

CALM has been the topic of several research reports. Wall Street Zen cut Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Wells Fargo & Company set a $100.00 price objective on shares of Cal-Maine Foods in a report on Monday, July 13th. BMO Capital Markets lifted their target price on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada set a $100.00 target price on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Finally, 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. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $94.71.

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.