Acadian Asset Management LLC Boosts Stake in Cal-Maine Foods, Inc. $CALM

Acadian Asset Management LLC lifted its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 22.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 493,609 shares of the basic materials company’s stock after buying an additional 89,823 shares during the period. Acadian Asset Management LLC owned approximately 1.01% of Cal-Maine Foods worth $44,848,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new position in shares of Cal-Maine Foods in the first quarter worth about $30,000. Investment Management Corp VA ADV lifted its stake in shares of Cal-Maine Foods by 172.2% in the first quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock worth $36,000 after buying an additional 248 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Cal-Maine Foods during the first quarter worth about $52,000. Blue Trust Inc. increased its position in Cal-Maine Foods by 388.2% during the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 493 shares during the last quarter. Finally, Quarry LP increased its position in Cal-Maine Foods by 1,470.5% during the first quarter. Quarry LP now owns 691 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 647 shares during the last quarter. 84.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CALM has been the subject of several recent analyst reports. Wall Street Zen cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. Stephens raised their price objective on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. BMO Capital Markets raised their price objective on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group started coverage on Cal-Maine Foods in a research report on Thursday, August 14th. They issued a “neutral” rating and a $110.00 target price on the stock. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Cal-Maine Foods presently has a consensus rating of “Hold” and an average target price of $110.00.

Cal-Maine Foods Stock Up 0.8%

Cal-Maine Foods stock opened at $109.50 on Thursday. The firm has a market cap of $5.37 billion, a PE ratio of 4.39 and a beta of 0.27. Cal-Maine Foods, Inc. has a 52-week low of $68.55 and a 52-week high of $126.40. The company’s 50 day moving average is $108.51 and its two-hundred day moving average is $98.85.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $1.75. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $877.03 million. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The firm’s quarterly revenue was up 72.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.32 EPS. On average, equities research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Monday, August 4th were issued a dividend of $3.46 per share. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $1.49. The ex-dividend date was Monday, August 4th. This represents a $13.84 dividend on an annualized basis and a yield of 12.6%. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 37.76%.

About Cal-Maine Foods

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.