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

Acadian Asset Management LLC raised its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 22.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 493,609 shares of the basic materials company’s stock after acquiring an additional 89,823 shares during the quarter. Acadian Asset Management LLC’s holdings in Cal-Maine Foods were worth $44,848,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CALM. Financial Management Professionals Inc. purchased a new position in Cal-Maine Foods in the first quarter worth approximately $30,000. Investment Management Corp VA ADV lifted its stake in 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 acquiring an additional 248 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Cal-Maine Foods in the first quarter worth approximately $52,000. Blue Trust Inc. lifted its stake in Cal-Maine Foods by 388.2% in the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 493 shares during the last quarter. Finally, Quarry LP lifted its stake 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 acquiring an additional 647 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CALM shares. Wall Street Zen downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. Stephens lifted their price target on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. The Goldman Sachs Group began coverage on shares of Cal-Maine Foods in a research report on Thursday, August 14th. They set a “neutral” rating and a $110.00 price objective for the company. Finally, BMO Capital Markets boosted 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. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $110.00.

Cal-Maine Foods Trading Up 0.8%

Shares of NASDAQ:CALM opened at $109.50 on Thursday. The company has a market capitalization of $5.37 billion, a PE ratio of 4.39 and a beta of 0.27. Cal-Maine Foods, Inc. has a twelve month low of $68.55 and a twelve month high of $126.40. The firm has a 50 day simple moving average of $108.51 and a 200-day simple moving average of $98.85.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 EPS for the quarter, beating analysts’ consensus estimates of $5.29 by $1.75. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $877.03 million. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The company’s quarterly revenue was up 72.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.32 EPS. As a group, equities research analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS 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. Stockholders of record on Monday, August 4th were issued a $3.46 dividend. This represents a $13.84 dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Cal-Maine Foods’s previous quarterly dividend of $1.49. Cal-Maine Foods’s dividend payout ratio is presently 37.76%.

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.