Hound Partners LLC Purchases 126,510 Shares of Cal-Maine Foods, Inc. $CALM

Hound Partners LLC grew its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 163.6% during the first quarter, Holdings Channel reports. The institutional investor owned 203,851 shares of the basic materials company’s stock after purchasing an additional 126,510 shares during the quarter. Cal-Maine Foods accounts for 2.0% of Hound Partners LLC’s holdings, making the stock its 15th largest holding. Hound Partners LLC’s holdings in Cal-Maine Foods were worth $16,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in Cal-Maine Foods by 3,014.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 623,571 shares of the basic materials company’s stock valued at $49,618,000 after acquiring an additional 603,551 shares during the period. Jupiter Asset Management Ltd. purchased a new position in shares of Cal-Maine Foods in the fourth quarter worth about $28,864,000. First Trust Advisors LP increased its stake in shares of Cal-Maine Foods by 29.7% in the first quarter. First Trust Advisors LP now owns 1,552,297 shares of the basic materials company’s stock worth $122,864,000 after purchasing an additional 355,762 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cal-Maine Foods by 13.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,519,483 shares of the basic materials company’s stock valued at $199,416,000 after purchasing an additional 300,910 shares during the period. Finally, Millennium Management LLC raised its position in shares of Cal-Maine Foods by 533.2% in the fourth quarter. Millennium Management LLC now owns 348,762 shares of the basic materials company’s stock valued at $27,751,000 after purchasing an additional 293,684 shares during the period. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

Shares of CALM opened at $90.32 on Monday. The business’s 50-day moving average price is $80.57 and its 200-day moving average price is $80.50. Cal-Maine Foods, Inc. has a twelve month low of $71.92 and a twelve month high of $117.45. The stock has a market cap of $4.28 billion, a PE ratio of 13.79 and a beta of 0.25.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Wednesday, July 22nd. The basic materials company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $563.83 million. During the same period in the previous year, the company posted $7.04 earnings per share. The company’s quarterly revenue was down 49.9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CALM. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, July 13th. Royal Bank Of Canada set a $100.00 price objective on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Weiss Ratings cut shares of Cal-Maine Foods from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Stephens dropped their target price on Cal-Maine Foods from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company set a $100.00 price target on Cal-Maine Foods in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $94.71.

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.