Beacon Investment Advisors LLC lifted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM – Free Report) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,572 shares of the basic materials company’s stock after acquiring an additional 228 shares during the period. Beacon Investment Advisors LLC’s holdings in Cal-Maine Foods were worth $1,070,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its stake in Cal-Maine Foods by 0.8% during the 1st quarter. BlackRock Inc. now owns 6,199,712 shares of the basic materials company’s stock valued at $342,347,000 after acquiring an additional 48,222 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Cal-Maine Foods by 9.8% during the third quarter. Vanguard Group Inc. now owns 4,992,618 shares of the basic materials company’s stock worth $277,540,000 after purchasing an additional 446,909 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cal-Maine Foods by 6.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,914,007 shares of the basic materials company’s stock worth $116,542,000 after purchasing an additional 111,339 shares during the period. Millennium Management LLC grew its position in Cal-Maine Foods by 2.9% in the 4th quarter. Millennium Management LLC now owns 1,604,025 shares of the basic materials company’s stock valued at $87,339,000 after buying an additional 45,771 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Cal-Maine Foods by 16.8% in the 4th quarter. First Trust Advisors LP now owns 1,222,316 shares of the basic materials company’s stock valued at $66,546,000 after buying an additional 175,942 shares during the period. 84.70% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CALM has been the topic of several analyst reports. StockNews.com assumed coverage on shares of Cal-Maine Foods in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Stephens dropped their target price on Cal-Maine Foods from $50.00 to $47.00 in a research report on Wednesday, July 26th. Finally, The Goldman Sachs Group reduced their price target on Cal-Maine Foods from $43.00 to $40.00 in a report on Thursday, July 6th.
Cal-Maine Foods Stock Performance
CALM stock traded down $0.09 during trading on Friday, reaching $47.70. 609,344 shares of the company were exchanged, compared to its average volume of 882,348. The stock’s 50 day moving average price is $45.67 and its 200 day moving average price is $50.21. Cal-Maine Foods, Inc. has a 52-week low of $43.29 and a 52-week high of $65.32. The company has a market cap of $2.34 billion, a P/E ratio of 3.07, a PEG ratio of 0.96 and a beta of -0.05.
Cal-Maine Foods (NASDAQ:CALM – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $2.27 EPS for the quarter, topping the consensus estimate of $1.38 by $0.89. Cal-Maine Foods had a return on equity of 53.64% and a net margin of 24.09%. The business had revenue of $688.70 million for the quarter, compared to analyst estimates of $612.94 million. During the same quarter in the previous year, the company earned $2.25 EPS. The company’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts forecast that Cal-Maine Foods, Inc. will post 2.96 EPS for the current year.
Cal-Maine Foods Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 22nd. Stockholders of record on Monday, August 7th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.37%. The ex-dividend date was Friday, August 4th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 19.45%.
Cal-Maine Foods Company 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.
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