Archford Capital Strategies LLC Acquires 45,823 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Archford Capital Strategies LLC increased its stake in Cal-Maine Foods, Inc. by 167.2% in Q2, acquiring an additional 45,823 shares, bringing its total to 73,225 shares.
• Cal-Maine Foods recently declared a quarterly dividend of $3.46, up from the previous $1.49, reflecting a strong annualized yield of 14.1%.
• Recent earnings reported a significant 72.1% revenue increase year-over-year, with an EPS of $7.04, surpassing expectations by $1.75.

Archford Capital Strategies LLC boosted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 167.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,225 shares of the basic materials company's stock after purchasing an additional 45,823 shares during the period. Cal-Maine Foods comprises 0.9% of Archford Capital Strategies LLC's portfolio, making the stock its 25th biggest holding. Archford Capital Strategies LLC owned about 0.15% of Cal-Maine Foods worth $7,295,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CALM. Vanguard Group Inc. raised its holdings in shares of Cal-Maine Foods by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,945,681 shares of the basic materials company's stock worth $449,562,000 after buying an additional 40,075 shares in the last quarter. American Century Companies Inc. raised its stake in 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 acquiring an additional 170,322 shares in the last quarter. Northern Trust Corp lifted 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 valued at $75,725,000 after acquiring an additional 158,719 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cal-Maine Foods by 3.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 664,304 shares of the basic materials company's stock valued at $60,385,000 after acquiring an additional 20,174 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Cal-Maine Foods by 8.7% in the 1st quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company's stock valued at $51,159,000 after purchasing an additional 45,201 shares in the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CALM. The Goldman Sachs Group initiated coverage on shares of Cal-Maine Foods in a research report on Thursday, August 14th. They set a "neutral" rating and a $110.00 target price for the company. BMO Capital Markets raised their price objective on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Stephens lifted their target price on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen lowered Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, Cal-Maine Foods currently has a consensus rating of "Hold" and a consensus target price of $110.00.

Cal-Maine Foods Price Performance

Shares of Cal-Maine Foods stock opened at $98.43 on Monday. The firm has a 50 day simple moving average of $108.48 and a 200 day simple moving average of $100.30. Cal-Maine Foods, Inc. has a fifty-two week low of $73.36 and a fifty-two week high of $126.40. The firm has a market cap of $4.83 billion, a P/E ratio of 3.95 and a beta of 0.27.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $877.03 million. Cal-Maine Foods had a return on equity of 54.81% and a net margin of 28.63%.The business's revenue for the quarter was up 72.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.32 EPS. On average, 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 14.1%. The ex-dividend date was Monday, August 4th. Cal-Maine Foods's dividend payout ratio (DPR) is 37.76%.

Cal-Maine Foods Company 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.

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