Cal-Maine Foods, Inc. $CALM Shares Acquired by Baird Financial Group Inc.

Baird Financial Group Inc. lifted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 14.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,972 shares of the basic materials company’s stock after acquiring an additional 26,175 shares during the quarter. Baird Financial Group Inc. owned about 0.43% of Cal-Maine Foods worth $19,177,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Cal-Maine Foods by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,945,681 shares of the basic materials company’s stock worth $449,562,000 after buying an additional 40,075 shares during the period. American Century Companies Inc. increased its stake in Cal-Maine Foods by 13.4% during the 1st quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company’s stock worth $130,618,000 after buying an additional 170,322 shares during the period. Northern Trust Corp increased its stake in Cal-Maine Foods by 23.5% during the 1st quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company’s stock worth $75,725,000 after buying an additional 158,719 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Cal-Maine Foods by 3.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 664,304 shares of the basic materials company’s stock worth $60,385,000 after buying an additional 20,174 shares during the period. Finally, Man Group plc increased its stake in Cal-Maine Foods by 258.7% during the 4th quarter. Man Group plc now owns 582,711 shares of the basic materials company’s stock worth $59,973,000 after buying an additional 420,247 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Stock Performance

CALM opened at $115.64 on Tuesday. The company has a 50-day moving average of $106.92 and a 200-day moving average of $97.96. The company has a market capitalization of $5.67 billion, a P/E ratio of 4.63 and a beta of 0.27. Cal-Maine Foods, Inc. has a 1-year low of $68.22 and a 1-year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share for the quarter, topping the consensus estimate of $5.29 by $1.75. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate 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 revenue was up 72.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.32 EPS. As a group, sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 4th were given a dividend of $3.46 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $13.84 dividend on an annualized basis and a dividend yield of 12.0%. This is a boost from Cal-Maine Foods’s previous quarterly dividend of $1.49. Cal-Maine Foods’s payout ratio is currently 37.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CALM shares. 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 started coverage on shares of Cal-Maine Foods in a research note on Thursday, August 14th. They set a “neutral” rating and a $110.00 price target on the stock. 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. Finally, BMO Capital Markets lifted their price target on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $110.00.

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.