Louisiana State Employees Retirement System Buys Shares of 19,900 Cal-Maine Foods, Inc. $CALM

Louisiana State Employees Retirement System purchased a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the first quarter, HoldingsChannel reports. The fund purchased 19,900 shares of the basic materials company’s stock, valued at approximately $1,575,000.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Cal-Maine Foods by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,218,573 shares of the basic materials company’s stock valued at $176,536,000 after purchasing an additional 166,402 shares during the last quarter. State Street Corp boosted its holdings in Cal-Maine Foods by 6.8% during the second quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after purchasing an additional 108,578 shares during the last quarter. First Trust Advisors LP grew its position in Cal-Maine Foods by 8.8% in the fourth quarter. First Trust Advisors LP now owns 1,196,535 shares of the basic materials company’s stock valued at $95,208,000 after purchasing an additional 96,589 shares in the last quarter. Morgan Stanley grew its position in Cal-Maine Foods by 9.4% in the fourth quarter. Morgan Stanley now owns 978,163 shares of the basic materials company’s stock valued at $77,832,000 after purchasing an additional 84,124 shares in the last quarter. Finally, Northern Trust Corp grew its position in Cal-Maine Foods by 8.4% in the third quarter. Northern Trust Corp now owns 900,466 shares of the basic materials company’s stock valued at $84,734,000 after purchasing an additional 70,063 shares in the last quarter. 84.67% of the stock is owned by institutional investors.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $80.45 on Thursday. Cal-Maine Foods, Inc. has a 52-week low of $71.92 and a 52-week high of $126.40. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 5.61 and a beta of 0.25. The firm’s 50-day moving average is $77.36 and its 200-day moving average is $80.12.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, April 1st. The basic materials company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The business had revenue of $666.95 million during the quarter, compared to analysts’ expectations of $655.82 million. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.Cal-Maine Foods’s quarterly revenue was down 53.0% on a year-over-year basis. During the same quarter last year, the company posted $10.39 earnings per share.

Analysts Set New Price Targets

A number of research firms have recently commented on CALM. Stephens increased their price objective on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 18th. BMO Capital Markets lowered their target price on Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 25th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, May 26th. Royal Bank Of Canada set a $100.00 price target on Cal-Maine Foods in a research report on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cal-Maine Foods in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $94.17.

Cal-Maine Foods 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.