Cal-Maine Foods, Inc. $CALM Shares Acquired by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. increased its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 493,090 shares of the basic materials company’s stock after purchasing an additional 5,876 shares during the quarter. Jupiter Asset Management Ltd. owned 1.01% of Cal-Maine Foods worth $49,127,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Archford Capital Strategies LLC grew its stake in Cal-Maine Foods by 167.2% in the 2nd quarter. Archford Capital Strategies LLC now owns 73,225 shares of the basic materials company’s stock worth $7,295,000 after acquiring an additional 45,823 shares during the period. Strs Ohio purchased a new position in shares of Cal-Maine Foods during the 1st quarter valued at approximately $1,154,000. Royal Bank of Canada grew its holdings in Cal-Maine Foods by 16.1% during the 1st quarter. Royal Bank of Canada now owns 156,322 shares of the basic materials company’s stock worth $14,210,000 after acquiring an additional 21,630 shares in the last quarter. Acadian Asset Management LLC grew its stake in Cal-Maine Foods by 22.2% in the first quarter. Acadian Asset Management LLC now owns 493,609 shares of the basic materials company’s stock worth $44,848,000 after purchasing an additional 89,823 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Cal-Maine Foods in the 1st quarter valued at approximately $548,000. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Trading Up 1.4%

Cal-Maine Foods stock opened at $89.93 on Wednesday. The stock’s 50 day moving average is $96.17 and its 200-day moving average is $100.09. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 3.46 and a beta of 0.21. Cal-Maine Foods, Inc. has a 12 month low of $79.55 and a 12 month high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing the consensus estimate of $4.55 by ($0.43). The business had revenue of $922.60 million for the quarter, compared to the consensus estimate of $931.62 million. Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.06 earnings per share. As a group, equities research analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 21.18%.

Wall Street Analysts Forecast Growth

CALM has been the topic of several research analyst reports. Lake Street Capital set a $97.00 target price on shares of Cal-Maine Foods in a research note on Friday, October 3rd. Stephens boosted their price target on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, July 24th. Wall Street Zen downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 23rd. The Goldman Sachs Group decreased their price target 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cal-Maine Foods in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $101.75.

Insider Buying and Selling

In other news, insider Keira L. Lombardo bought 2,800 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were bought at an average cost of $92.36 per share, for a total transaction of $258,608.00. Following the acquisition, the insider directly owned 3,738 shares in the company, valued at approximately $345,241.68. This trade represents a 298.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is owned by insiders.

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.