Jupiter Asset Management Ltd. Increases Position in Cal-Maine Foods, Inc. $CALM

Jupiter Asset Management Ltd. lifted its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 1.2% in the second quarter, HoldingsChannel reports. The fund owned 493,090 shares of the basic materials company’s stock after buying an additional 5,876 shares during the period. Jupiter Asset Management Ltd.’s holdings in Cal-Maine Foods were worth $49,127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. IFP Advisors Inc increased its stake in shares of Cal-Maine Foods by 195.1% during the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock valued at $25,000 after buying an additional 158 shares during the period. Investment Management Corp VA ADV boosted its stake in Cal-Maine Foods by 172.2% in the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 248 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Cal-Maine Foods in the first quarter worth $52,000. AdvisorNet Financial Inc purchased a new position in shares of Cal-Maine Foods during the second quarter valued at approximately $54,000. Finally, Quarry LP boosted its position in Cal-Maine Foods by 1,470.5% in 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 currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CALM. The Goldman Sachs Group reduced their price objective on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. BMO Capital Markets reduced their price objective on Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a report on Friday, October 3rd. Lake Street Capital set a $97.00 target price on Cal-Maine Foods in a research note on Friday, October 3rd. Wall Street Zen lowered Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cal-Maine Foods in a research note on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $101.75.

Cal-Maine Foods Trading Up 1.4%

Shares of NASDAQ CALM opened at $89.93 on Wednesday. Cal-Maine Foods, Inc. has a 12-month low of $79.55 and a 12-month high of $126.40. The business’s fifty day simple moving average is $96.17 and its 200-day simple moving average is $100.09. The stock has a market cap of $4.36 billion, a P/E ratio of 3.46 and a beta of 0.21.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). The business had revenue of $922.60 million during the quarter, compared to analyst estimates of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $3.06 earnings per share. On average, equities analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be paid a dividend of $1.37 per share. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a $5.48 annualized dividend and a yield of 6.1%. Cal-Maine Foods’s dividend payout ratio is currently 21.18%.

Insider Transactions at Cal-Maine Foods

In other news, insider Keira L. Lombardo purchased 2,800 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was purchased at an average cost of $92.36 per share, with a total value of $258,608.00. Following the completion of the acquisition, the insider directly owned 3,738 shares of the company’s stock, valued at approximately $345,241.68. This trade represents a 298.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

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.