Cal-Maine Foods, Inc. (NASDAQ:CALM) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 88.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 340,155 shares of the basic materials company’s stock after buying an additional 159,787 shares during the period. JPMorgan Chase & Co. owned about 0.69% of Cal-Maine Foods worth $25,457,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Cal-Maine Foods by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company’s stock worth $159,863,000 after acquiring an additional 114,995 shares during the period. Renaissance Technologies LLC boosted its holdings in Cal-Maine Foods by 5.5% during the second quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company’s stock worth $129,286,000 after buying an additional 110,900 shares in the last quarter. State Street Corp grew its position in Cal-Maine Foods by 3.0% during the third quarter. State Street Corp now owns 1,609,388 shares of the basic materials company’s stock worth $120,447,000 after buying an additional 46,187 shares during the period. Pacer Advisors Inc. increased its holdings in Cal-Maine Foods by 4.3% in the third quarter. Pacer Advisors Inc. now owns 1,561,672 shares of the basic materials company’s stock valued at $116,876,000 after buying an additional 64,489 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Cal-Maine Foods by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company’s stock valued at $61,948,000 after acquiring an additional 82,772 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CALM shares. StockNews.com downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Tuesday. Stephens assumed coverage on Cal-Maine Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price target for the company.

Cal-Maine Foods Stock Down 1.0 %

CALM opened at $103.68 on Wednesday. The firm has a market cap of $5.08 billion, a P/E ratio of 11.88 and a beta of -0.11. The business’s fifty day simple moving average is $98.25 and its 200 day simple moving average is $81.91. Cal-Maine Foods, Inc. has a 52 week low of $53.38 and a 52 week high of $114.06.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.42. Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The company had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $751.50 million. During the same period last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 82.5% compared to the same quarter last year. As a group, equities analysts expect that Cal-Maine Foods, Inc. will post 8.54 EPS for the current fiscal year.

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.