LGT Fund Management Co Ltd. Acquires 8,206 Shares of Cal-Maine Foods, Inc. $CALM

LGT Fund Management Co Ltd. lifted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 28.0% during the 2nd quarter, Holdings Channel reports. The firm owned 37,500 shares of the basic materials company’s stock after purchasing an additional 8,206 shares during the period. LGT Fund Management Co Ltd.’s holdings in Cal-Maine Foods were worth $3,736,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in CALM. Nuveen LLC bought a new position in shares of Cal-Maine Foods during the first quarter worth approximately $35,322,000. Jupiter Asset Management Ltd. increased its holdings in shares of Cal-Maine Foods by 336.5% during the first quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company’s stock worth $44,288,000 after purchasing an additional 375,604 shares during the period. Empowered Funds LLC increased its holdings in shares of 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 purchasing an additional 190,715 shares during the period. American Century Companies Inc. increased its holdings in shares of Cal-Maine Foods by 13.4% during the first quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company’s stock worth $130,618,000 after purchasing an additional 170,322 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Cal-Maine Foods by 23.5% during the first quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company’s stock worth $75,725,000 after purchasing an additional 158,719 shares during the period. 84.67% of the stock is owned by institutional investors.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $92.56 on Friday. Cal-Maine Foods, Inc. has a fifty-two week low of $79.44 and a fifty-two week high of $126.40. The firm has a market capitalization of $4.54 billion, a P/E ratio of 3.56 and a beta of 0.22. The company’s 50 day moving average price is $107.03 and its two-hundred day moving average price is $100.34.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing analysts’ consensus estimates of $4.55 by ($0.43). Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The company had revenue of $922.60 million during the quarter, compared to analyst estimates of $931.62 million. During the same quarter in the prior year, the business earned $3.06 EPS. The business’s quarterly revenue was up 17.4% on a year-over-year basis. On average, analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be given a $1.37 dividend. The ex-dividend date is Wednesday, October 29th. This represents a $5.48 dividend on an annualized basis and a yield of 5.9%. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 37.76%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Lake Street Capital set a $97.00 price target on shares of Cal-Maine Foods in a research report on Friday. The Goldman Sachs Group reduced their price target on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday. BMO Capital Markets reduced their price target on shares of Cal-Maine Foods from $105.00 to $97.00 and set a “market perform” rating on the stock in a research report on Friday. Stephens increased 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 report on Thursday, July 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cal-Maine Foods in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cal-Maine Foods currently has a consensus rating of “Hold” and a consensus price target of $101.75.

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.