Jupiter Asset Management Ltd. Buys New Shares in Cal-Maine Foods, Inc. $CALM

Jupiter Asset Management Ltd. bought a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 362,748 shares of the basic materials company’s stock, valued at approximately $28,864,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Cal-Maine Foods by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,052,171 shares of the basic materials company’s stock valued at $193,118,000 after buying an additional 39,669 shares during the period. State Street Corp lifted its holdings in Cal-Maine Foods by 6.8% in the second quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock valued at $171,038,000 after buying an additional 108,578 shares during the period. American Century Companies Inc. lifted its holdings in Cal-Maine Foods by 3.5% in the third quarter. American Century Companies Inc. now owns 1,618,491 shares of the basic materials company’s stock valued at $152,300,000 after buying an additional 54,757 shares during the period. Northern Trust Corp lifted its holdings in Cal-Maine Foods by 8.4% in the third quarter. Northern Trust Corp now owns 900,466 shares of the basic materials company’s stock valued at $84,734,000 after buying an additional 70,063 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Cal-Maine Foods by 6.6% in the second quarter. Bank of America Corp DE now owns 705,671 shares of the basic materials company’s stock valued at $70,306,000 after buying an additional 43,414 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

CALM stock opened at $74.72 on Friday. The stock has a market capitalization of $3.54 billion, a PE ratio of 5.21 and a beta of 0.28. The company’s 50-day moving average is $77.28 and its 200-day moving average is $81.49. Cal-Maine Foods, Inc. has a 1 year low of $71.92 and a 1 year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Wednesday, April 1st. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The company had revenue of $666.95 million for 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 business’s revenue was down 53.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.39 EPS.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, April 29th. Cal-Maine Foods’s dividend payout ratio is 9.97%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CALM. Weiss Ratings restated a “hold (c+)” rating on shares of Cal-Maine Foods in a report on Friday, March 27th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday. Royal Bank Of Canada set a $100.00 price objective on shares of Cal-Maine Foods in a research report on Tuesday. Stephens increased their price objective on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. Finally, BMO Capital Markets cut their price objective 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. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $94.17.

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. 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.