Bayforest Capital Ltd Has $525,000 Stock Position in Cal-Maine Foods, Inc. $CALM

Bayforest Capital Ltd raised its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 3,779.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,780 shares of the basic materials company’s stock after acquiring an additional 5,631 shares during the quarter. Bayforest Capital Ltd’s holdings in Cal-Maine Foods were worth $525,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Man Group plc lifted its holdings 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 valued at $59,973,000 after purchasing an additional 420,247 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Cal-Maine Foods by 515.1% during the 4th quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company’s stock worth $49,142,000 after buying an additional 399,848 shares during the last quarter. Nuveen LLC acquired a new position in Cal-Maine Foods in the 1st quarter valued at about $35,322,000. Jupiter Asset Management Ltd. raised its holdings in Cal-Maine Foods by 336.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company’s stock valued at $44,288,000 after acquiring an additional 375,604 shares during the period. Finally, Empowered Funds LLC lifted its position in Cal-Maine Foods by 315.2% during the first quarter. Empowered Funds LLC now owns 251,228 shares of the basic materials company’s stock worth $22,837,000 after acquiring an additional 190,715 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BMO Capital Markets increased their target price on 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. Stephens increased their price objective on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Wall Street Zen cut shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. Finally, The Goldman Sachs Group started 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 target on the stock. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $110.00.

Cal-Maine Foods Stock Performance

Shares of CALM opened at $108.68 on Wednesday. The business’s fifty day moving average is $108.39 and its 200-day moving average is $98.77. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 4.36 and a beta of 0.27. Cal-Maine Foods, Inc. has a 52-week low of $68.46 and a 52-week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share for the quarter, topping analysts’ consensus estimates of $5.29 by $1.75. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $877.03 million. During the same quarter in the previous year, the firm posted $2.32 earnings per share. The company’s revenue was up 72.1% on a year-over-year basis. As a group, research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 4th were issued a $3.46 dividend. The ex-dividend date was Monday, August 4th. This is a positive change from Cal-Maine Foods’s previous quarterly dividend of $1.49. This represents a $13.84 dividend on an annualized basis and a yield of 12.7%. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 37.72%.

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.