Cal-Maine Foods, Inc. $CALM Position Trimmed by Accurate Wealth Management LLC

Key Points

• Accurate Wealth Management LLC has reduced its holdings in Cal-Maine Foods by 38.3%, now owning 7,559 shares valued at $761,000.
• Cal-Maine Foods recently increased its quarterly dividend to $3.46, representing an annual yield of 14.2%.
• The company reported earnings of $7.04 per share, significantly beating estimates, with a 72.1% increase in revenue year-over-year.

Accurate Wealth Management LLC decreased its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 38.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,559 shares of the basic materials company's stock after selling 4,699 shares during the period. Accurate Wealth Management LLC's holdings in Cal-Maine Foods were worth $761,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. bought a new stake in Cal-Maine Foods during the first quarter valued at $527,000. Bank of New York Mellon Corp increased its stake in Cal-Maine Foods by 8.7% during the first 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 during the last quarter. KBC Group NV increased its stake in Cal-Maine Foods by 23.2% during the first quarter. KBC Group NV now owns 2,071 shares of the basic materials company's stock valued at $188,000 after purchasing an additional 390 shares during the last quarter. GAMMA Investing LLC increased its stake in Cal-Maine Foods by 25.7% during the first quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company's stock valued at $156,000 after purchasing an additional 352 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Cal-Maine Foods by 8.2% during the first quarter. Sequoia Financial Advisors LLC now owns 2,511 shares of the basic materials company's stock valued at $228,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 84.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. BMO Capital Markets upped their price target on shares of 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. The Goldman Sachs Group assumed coverage on shares of Cal-Maine Foods in a research report on Thursday, August 14th. They set a "neutral" rating and a $110.00 price target for the company. Finally, Stephens upped their price target 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, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $110.00.

Cal-Maine Foods Stock Up 0.4%

Shares of CALM opened at $97.22 on Thursday. The firm has a 50-day moving average price of $108.82 and a 200 day moving average price of $99.93. The firm has a market capitalization of $4.77 billion, a PE ratio of 3.90 and a beta of 0.27. Cal-Maine Foods, Inc. has a 52-week low of $72.48 and a 52-week high of $126.40.

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

Cal-Maine Foods Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 4th were given a $3.46 dividend. The ex-dividend date was Monday, August 4th. This represents a $13.84 dividend on an annualized basis and a yield of 14.2%. This is a boost from Cal-Maine Foods's previous quarterly dividend of $1.49. Cal-Maine Foods's payout ratio is currently 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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