Municipal Employees Retirement System of Michigan continued to hold its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 6,740 shares of the basic materials company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Cal-Maine Foods were worth $248,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CALM. Norges Bank purchased a new stake in Cal-Maine Foods during the fourth quarter worth $9,300,000. Aberdeen Asset Management PLC UK increased its stake in Cal-Maine Foods by 7.7% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,517,059 shares of the basic materials company’s stock worth $55,827,000 after buying an additional 108,970 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Cal-Maine Foods during the fourth quarter worth $3,342,000. Wells Fargo & Company MN increased its stake in Cal-Maine Foods by 92.3% in the first quarter. Wells Fargo & Company MN now owns 119,064 shares of the basic materials company’s stock worth $4,381,000 after buying an additional 57,150 shares during the last quarter. Finally, State Street Corp increased its stake in Cal-Maine Foods by 8.2% in the fourth quarter. State Street Corp now owns 701,279 shares of the basic materials company’s stock worth $30,981,000 after buying an additional 52,947 shares during the last quarter. Institutional investors own 61.56% of the company’s stock.

Cal-Maine Foods, Inc. (CALM) traded down 2.39% during midday trading on Friday, hitting $36.70. The company had a trading volume of 289,483 shares. The stock has a 50 day moving average price of $37.63 and a 200 day moving average price of $38.54. Cal-Maine Foods, Inc. has a 52 week low of $33.40 and a 52 week high of $46.47. The company’s market capitalization is $1.78 billion.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Monday, July 24th. The basic materials company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.09) by $0.42. Cal-Maine Foods had a negative return on equity of 8.57% and a negative net margin of 6.91%. The business had revenue of $274.60 million for the quarter, compared to analyst estimates of $271.33 million. During the same quarter last year, the company posted ($0.01) EPS. Cal-Maine Foods’s quarterly revenue was down 9.4% on a year-over-year basis. Equities analysts forecast that Cal-Maine Foods, Inc. will post $0.26 earnings per share for the current fiscal year.

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A number of equities analysts have commented on CALM shares. Cleveland Research cut Cal-Maine Foods from a “neutral” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research note on Tuesday, May 30th. ValuEngine raised Cal-Maine Foods from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Goldman Sachs Group, Inc. (The) cut Cal-Maine Foods from a “neutral” rating to a “sell” rating and set a $31.00 price target on the stock. in a research note on Friday, June 16th. Finally, BidaskClub cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Five research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.70.

About Cal-Maine Foods

Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.

Institutional Ownership by Quarter for Cal-Maine Foods (NASDAQ:CALM)

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