6,029 Shares in Cal-Maine Foods, Inc. $CALM Bought by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd acquired 6,029 shares of Cal-Maine Foods, valued at approximately $548,000, during the first quarter of the year.
• Cal-Maine Foods recently announced a quarterly dividend increase to $3.46 per share, reflecting a significant annual yield of 12.6%.
• Wall Street analysts have mixed ratings on Cal-Maine Foods, with a consensus rating of "Hold" and a target price of $110.00.

Dynamic Technology Lab Private Ltd purchased a new position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,029 shares of the basic materials company's stock, valued at approximately $548,000.

Several other institutional investors have also recently made changes to their positions in CALM. Financial Management Professionals Inc. bought a new position in shares of Cal-Maine Foods during the 1st quarter worth about $30,000. Investment Management Corp VA ADV raised its stake in Cal-Maine Foods by 172.2% during the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock worth $36,000 after buying an additional 248 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Cal-Maine Foods in the first quarter worth approximately $52,000. Blue Trust Inc. grew its stake in Cal-Maine Foods by 388.2% in the first quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after acquiring an additional 493 shares during the period. Finally, Quarry LP grew its stake in Cal-Maine Foods by 1,470.5% in the first quarter. Quarry LP now owns 691 shares of the basic materials company's stock valued at $63,000 after acquiring an additional 647 shares during the period. Institutional investors and hedge funds own 84.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. BMO Capital Markets upped their target price on Cal-Maine Foods from $100.00 to $105.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Wall Street Zen downgraded shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. The Goldman Sachs Group initiated coverage on shares of Cal-Maine Foods in a research note on Thursday, August 14th. They issued a "neutral" rating and a $110.00 price objective on the stock. Finally, Stephens boosted their target price 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. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $110.00.

Cal-Maine Foods Trading Up 0.8%

NASDAQ CALM opened at $109.50 on Thursday. The business has a fifty day simple moving average of $108.51 and a 200 day simple moving average of $98.85. Cal-Maine Foods, Inc. has a 12 month low of $68.55 and a 12 month high of $126.40. The firm has a market capitalization of $5.37 billion, a P/E ratio of 4.39 and a beta of 0.27.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $877.03 million. During the same quarter in the prior year, the business posted $2.32 EPS. The business's revenue was up 72.1% compared to the same quarter last year. As a group, sell-side analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 4th were issued a dividend of $3.46 per share. This represents a $13.84 dividend on an annualized basis and a yield of 12.6%. This is an increase from Cal-Maine Foods's previous quarterly dividend of $1.49. The ex-dividend date was Monday, August 4th. Cal-Maine Foods's dividend payout ratio is 37.76%.

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.

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