Bank of New York Mellon Corp Invests $57.89 Million in Cal-Maine Foods, Inc. $CALM

Bank of New York Mellon Corp acquired a new position in Cal-Maine Foods, Inc. (NASDAQ:CALM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 718,648 shares of the basic materials company’s stock, valued at approximately $57,894,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc increased its position in shares of Cal-Maine Foods by 58.2% during the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Pinnacle Holdings LLC purchased a new stake in Cal-Maine Foods in the fourth quarter worth $30,000. National Bank of Canada FI purchased a new position in Cal-Maine Foods in the 3rd quarter worth about $42,000. Quarry LP grew its position in shares of Cal-Maine Foods by 146.6% during the 3rd quarter. Quarry LP now owns 587 shares of the basic materials company’s stock worth $55,000 after buying an additional 349 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Cal-Maine Foods in the 4th quarter worth approximately $51,000. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. Stephens reduced their target price 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. BMO Capital Markets lifted their price objective on Cal-Maine Foods from $75.00 to $83.00 and gave the company a “market perform” rating in a research note on Thursday, July 23rd. Weiss Ratings downgraded Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada set a $100.00 target price on Cal-Maine Foods in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $94.71.

Cal-Maine Foods Stock Performance

Shares of Cal-Maine Foods stock opened at $83.06 on Thursday. Cal-Maine Foods, Inc. has a one year low of $71.92 and a one year high of $116.99. The business has a 50-day simple moving average of $84.08 and a 200-day simple moving average of $81.32. The company has a market cap of $3.90 billion, a PE ratio of 12.68 and a beta of 0.25.

Cal-Maine Foods (NASDAQ:CALM) last released 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 firm had revenue of $552.58 million for the quarter, compared to analysts’ expectations of $563.83 million. During the same period last year, the firm posted $7.04 earnings per share. Cal-Maine Foods’s revenue for the quarter was down 49.9% on a year-over-year basis.

About Cal-Maine Foods

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.