Amundi Has $1.58 Million Stake in Cal-Maine Foods, Inc. $CALM

Key Points

• Amundi reduced its stake in Cal-Maine Foods by 19.4% during the first quarter, now holding 17,007 shares valued at approximately $1.58 million.
• The company reported a significant increase in quarterly earnings, with $7.04 EPS, exceeding expectations and marking a 72.1% revenue growth year-over-year.
• Cal-Maine Foods declared a substantial dividend increase from $1.49 to $3.46, resulting in a yield of 12.5% and an annualized dividend of $13.84.

Amundi trimmed its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,007 shares of the basic materials company's stock after selling 4,090 shares during the quarter. Amundi's holdings in Cal-Maine Foods were worth $1,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised its stake in shares of Cal-Maine Foods by 16.1% in the 1st quarter. Royal Bank of Canada now owns 156,322 shares of the basic materials company's stock valued at $14,210,000 after acquiring an additional 21,630 shares in the last quarter. Quarry LP lifted its holdings in Cal-Maine Foods by 1,470.5% in the 1st quarter. Quarry LP now owns 691 shares of the basic materials company's stock worth $63,000 after purchasing an additional 647 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Cal-Maine Foods by 14.2% in the 1st quarter. Baird Financial Group Inc. now owns 210,972 shares of the basic materials company's stock worth $19,177,000 after purchasing an additional 26,175 shares during the last quarter. Vident Advisory LLC lifted its holdings in Cal-Maine Foods by 13.5% in the 1st quarter. Vident Advisory LLC now owns 29,738 shares of the basic materials company's stock worth $2,703,000 after purchasing an additional 3,531 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in Cal-Maine Foods by 2.5% in the 1st quarter. Evergreen Capital Management LLC now owns 5,898 shares of the basic materials company's stock worth $536,000 after purchasing an additional 143 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Stephens boosted their target price on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Wall Street Zen lowered Cal-Maine Foods from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. The Goldman Sachs Group began coverage on Cal-Maine Foods in a research note on Thursday, August 14th. They issued a "neutral" rating and a $110.00 target price for the company. Finally, BMO Capital Markets upped their target price on Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Cal-Maine Foods has an average rating of "Hold" and a consensus price target of $110.00.

Cal-Maine Foods Stock Down 0.3%

Cal-Maine Foods stock opened at $110.64 on Friday. The business's 50-day simple moving average is $108.87 and its 200 day simple moving average is $99.15. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 4.43 and a beta of 0.27. Cal-Maine Foods, Inc. has a 12-month low of $68.81 and a 12-month high of $126.40.

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

Cal-Maine Foods Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 4th were issued a $3.46 dividend. This is a positive change from Cal-Maine Foods's previous quarterly dividend of $1.49. This represents a $13.84 annualized dividend and a yield of 12.5%. The ex-dividend date was Monday, August 4th. Cal-Maine Foods's dividend payout ratio (DPR) 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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