Allspring Global Investments Holdings LLC Has $7.32 Million Position in Cal-Maine Foods, Inc. $CALM

Allspring Global Investments Holdings LLC lifted its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 10.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,853 shares of the basic materials company’s stock after purchasing an additional 8,283 shares during the period. Allspring Global Investments Holdings LLC owned 0.19% of Cal-Maine Foods worth $7,323,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Pinnacle Holdings LLC acquired a new stake in shares of Cal-Maine Foods in the fourth quarter worth $30,000. WealthCollab LLC raised its stake in Cal-Maine Foods by 105.2% during the 4th quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 221 shares during the last quarter. IFP Advisors Inc raised its stake in 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. Signaturefd LLC boosted its holdings in Cal-Maine Foods by 46.5% in the 4th quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 155 shares during the period. Finally, National Bank of Canada FI bought a new stake in Cal-Maine Foods in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods News Summary

Here are the key news stories impacting Cal-Maine Foods this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Cal-Maine Foods from $75 to $83, but kept a market perform rating, suggesting the firm sees some valuation support even though it still implies downside from the current share price. Benzinga article
• Neutral Sentiment: Cal-Maine Foods was the target of unusually large options trading, indicating heightened investor attention after earnings, but not necessarily a clear directional catalyst. American Banking News article
• Neutral Sentiment: Analysts and commentary around the results focused on whether CALM is fairly valued after the earnings report and on management’s discussion of revenue declines and diversification efforts. Yahoo Finance article
• Negative Sentiment: Media coverage emphasized the surprise Q4 loss, low egg prices, and a significant drop in sales and margins, reinforcing the core reason for the stock’s weakness. Motley Fool article

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CALM shares. Wells Fargo & Company set a $100.00 price target on shares of Cal-Maine Foods in a research report on Monday, July 13th. BMO Capital Markets upped their price objective on shares of Cal-Maine Foods from $75.00 to $83.00 and gave the company a “market perform” rating in a research report on Thursday. Stephens reduced their target price on shares of 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. Weiss Ratings reissued a “hold (c)” rating on shares of Cal-Maine Foods in a research report on Wednesday, July 8th. Finally, Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Cal-Maine Foods currently has an average rating of “Hold” and an average price target of $94.71.

Cal-Maine Foods Stock Up 0.3%

NASDAQ CALM opened at $88.14 on Friday. The stock has a market cap of $4.18 billion, a P/E ratio of 13.46 and a beta of 0.25. The company’s 50-day simple moving average is $80.30 and its 200 day simple moving average is $80.42. Cal-Maine Foods, Inc. has a twelve month low of $71.92 and a twelve month high of $119.17.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.84). The business had revenue of $552.58 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 49.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.04 EPS.

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.