FORA Capital LLC Invests $596,000 in Cal-Maine Foods, Inc. $CALM

Key Points

• FORA Capital LLC has acquired a new stake in Cal-Maine Foods, purchasing 6,560 shares valued at approximately $596,000 during the first quarter.
• Cal-Maine Foods reported a significant increase in quarterly earnings, with earnings per share of $7.04, exceeding expectations and showing a 72.1% revenue growth year-over-year.
• Wall Street analysts have given Cal-Maine Foods a consensus rating of "Hold"** with a price target around $110, indicating cautious optimism following recent performance.

FORA Capital LLC purchased a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,560 shares of the basic materials company's stock, valued at approximately $596,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Man Group plc raised its position in shares of Cal-Maine Foods by 258.7% in the 4th quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock worth $59,973,000 after acquiring an additional 420,247 shares in the last quarter. Millennium Management LLC raised its position in shares of Cal-Maine Foods by 515.1% in the 4th quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company's stock worth $49,142,000 after acquiring an additional 399,848 shares in the last quarter. Nuveen LLC bought a new position in shares of Cal-Maine Foods in the 1st quarter worth approximately $35,322,000. Jupiter Asset Management Ltd. raised its position in shares of 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 worth $44,288,000 after acquiring an additional 375,604 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Cal-Maine Foods by 60.2% in the 4th quarter. Northern Trust Corp now owns 674,335 shares of the basic materials company's stock worth $69,403,000 after acquiring an additional 253,310 shares in the last quarter. Institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Trading Up 0.2%

Cal-Maine Foods stock traded up $0.24 during trading on Monday, reaching $115.64. The company had a trading volume of 544,363 shares, compared to its average volume of 719,576. Cal-Maine Foods, Inc. has a 52 week low of $68.22 and a 52 week high of $126.40. The firm's 50-day simple moving average is $106.64 and its 200 day simple moving average is $97.82. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 4.63 and a beta of 0.27.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 EPS for the quarter, topping analysts' consensus estimates of $5.29 by $1.75. Cal-Maine Foods had a return on equity of 54.81% and a net margin of 28.63%.The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $877.03 million. During the same period last year, the firm earned $2.32 EPS. Cal-Maine Foods's revenue for the quarter was up 72.1% compared to the same quarter last year. On average, analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Monday, August 4th were issued a dividend of $3.46 per share. This is a boost 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 12.0%. The ex-dividend date of this dividend was Monday, August 4th. Cal-Maine Foods's payout ratio is 37.72%.

Wall Street Analyst Weigh In

CALM has been the subject of several research reports. Stephens increased their target price 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 downgraded Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. BMO Capital Markets upped their price target 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. Finally, The Goldman Sachs Group initiated coverage on Cal-Maine Foods in a research note on Thursday, August 14th. They issued 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $110.00.

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.