Hsbc Holdings PLC Purchases 15,643 Shares of Cal-Maine Foods, Inc. $CALM

Hsbc Holdings PLC lifted its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 41.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 53,608 shares of the basic materials company’s stock after purchasing an additional 15,643 shares during the period. Hsbc Holdings PLC’s holdings in Cal-Maine Foods were worth $4,298,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Pinnacle Holdings LLC bought a new stake in Cal-Maine Foods during the fourth quarter valued at about $30,000. WealthCollab LLC boosted its stake in shares of Cal-Maine Foods by 105.2% in the fourth quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 221 shares during the period. IFP Advisors Inc boosted its stake in shares of Cal-Maine Foods by 58.2% in the third quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 139 shares during the period. Signaturefd LLC grew its position in shares of Cal-Maine Foods by 46.5% during the fourth quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 155 shares in the last quarter. Finally, National Bank of Canada FI purchased a new stake in Cal-Maine Foods during the 3rd quarter valued at approximately $42,000. Institutional investors own 84.67% of the company’s stock.

Wall Street Analyst Weigh In

CALM has been the subject of a number of research analyst reports. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, May 26th. BMO Capital Markets reduced their price target on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 25th. Royal Bank Of Canada set a $100.00 price target on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Stephens increased their price objective on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cal-Maine Foods in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $94.17.

Cal-Maine Foods Stock Up 2.5%

NASDAQ CALM opened at $80.23 on Friday. Cal-Maine Foods, Inc. has a 52 week low of $71.92 and a 52 week high of $126.40. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 5.59 and a beta of 0.26. The company has a fifty day moving average of $77.11 and a two-hundred day moving average of $80.29.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Wednesday, April 1st. The basic materials company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The firm had revenue of $666.95 million during the quarter, compared to analysts’ expectations of $655.82 million. Cal-Maine Foods had a net margin of 20.07% and a return on equity of 26.05%. The firm’s revenue for the quarter was down 53.0% compared to the same quarter last year. During the same period in the previous year, the company earned $10.39 EPS.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, April 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is 9.97%.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.