Bayforest Capital Ltd Purchases 5,631 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Bayforest Capital Ltd significantly increased its stake in Cal-Maine Foods, raising its position by 3,779.2% to hold 5,780 shares valued at $525,000.
• Cal-Maine Foods recently announced a quarterly dividend of $3.46, a notable increase from its previous payment of $1.49, resulting in an annualized yield of 12.7%.
• Despite strong earnings performance, analysts maintain a consensus rating of "Hold" on Cal-Maine Foods with a target price of $110.00.

Bayforest Capital Ltd raised its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 3,779.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,780 shares of the basic materials company's stock after acquiring an additional 5,631 shares during the quarter. Bayforest Capital Ltd's holdings in Cal-Maine Foods were worth $525,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Man Group plc increased its holdings 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 valued at $59,973,000 after acquiring an additional 420,247 shares during the period. Millennium Management LLC lifted its holdings in 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 valued at $49,142,000 after purchasing an additional 399,848 shares in the last quarter. Nuveen LLC acquired a new position in shares of Cal-Maine Foods during the 1st quarter valued at about $35,322,000. Jupiter Asset Management Ltd. increased its position in Cal-Maine Foods by 336.5% during the 1st 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 in the last quarter. Finally, Empowered Funds LLC increased its position in Cal-Maine Foods by 315.2% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Trading Down 0.4%

NASDAQ CALM traded down $0.40 during trading on Monday, reaching $110.25. 116,599 shares of the company's stock were exchanged, compared to its average volume of 933,789. The firm has a market capitalization of $5.41 billion, a PE ratio of 4.42 and a beta of 0.27. Cal-Maine Foods, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $126.40. The company's fifty day simple moving average is $108.87 and its 200-day simple moving average is $99.30.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced 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. Cal-Maine Foods had a return on equity of 54.81% and a net margin of 28.63%.The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $877.03 million. During the same period in the previous year, the company earned $2.32 EPS. The firm's revenue was up 72.1% on a year-over-year basis. Equities analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Monday, August 4th were given 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 dividend yield of 12.6%. The ex-dividend date was Monday, August 4th. Cal-Maine Foods's dividend payout ratio (DPR) is presently 37.76%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CALM shares. The Goldman Sachs Group started coverage on shares of Cal-Maine Foods in a research report on Thursday, August 14th. They issued a "neutral" rating and a $110.00 price objective for the company. Stephens raised their target price on 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. Wall Street Zen cut Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. Finally, BMO Capital Markets raised 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, According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $110.00.

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.