Credit Agricole S A Buys 25,439 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Credit Agricole S A significantly increased its stake in Cal-Maine Foods by 355.2% during the first quarter, acquiring a total of 32,600 shares worth approximately $2.96 million.
• Cal-Maine Foods reported a strong earnings performance, with $7.04 earnings per share for the last quarter, surpassing estimates of $5.29, and a revenue of $1.10 billion, which was significantly higher than the expected $877.03 million.
• Analysts are optimistic about Cal-Maine's stock, with target prices increased; for instance, Stephens raised their target from $108.00 to $115.00 while maintaining an "equal weight" rating.

Credit Agricole S A raised its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 355.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,600 shares of the basic materials company's stock after acquiring an additional 25,439 shares during the period. Credit Agricole S A owned approximately 0.07% of Cal-Maine Foods worth $2,963,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. 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 valued at $449,562,000 after acquiring an additional 40,075 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Cal-Maine Foods by 13.4% during the 1st quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company's stock valued at $130,618,000 after buying an additional 170,322 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Cal-Maine Foods by 23.5% during the 1st quarter. Northern Trust Corp now owns 833,054 shares of the basic materials company's stock valued at $75,725,000 after buying an additional 158,719 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cal-Maine Foods by 3.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 664,304 shares of the basic materials company's stock valued at $60,385,000 after buying an additional 20,174 shares in the last quarter. Finally, Man Group plc raised its holdings in shares of Cal-Maine Foods by 258.7% during the 4th quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock valued at $59,973,000 after buying an additional 420,247 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Stock Performance

CALM traded down $1.42 on Thursday, hitting $115.39. 254,909 shares of the company were exchanged, compared to its average volume of 954,608. The firm has a fifty day simple moving average of $106.12 and a two-hundred day simple moving average of $97.90. Cal-Maine Foods, Inc. has a 12 month low of $68.22 and a 12 month high of $126.40. The stock has a market capitalization of $5.66 billion, a PE ratio of 4.63 and a beta of 0.19.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share for the quarter, topping analysts' consensus estimates of $5.29 by $1.75. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 72.1% compared to the same quarter last year. During the same period last year, the company earned $2.32 EPS. On average, equities analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Monday, August 4th were issued a $3.46 dividend. This represents a $13.84 annualized dividend and a yield of 12.0%. This is a positive change from Cal-Maine Foods's previous quarterly dividend of $1.49. The ex-dividend date of this dividend was Monday, August 4th. Cal-Maine Foods's dividend payout ratio is presently 37.76%.

Wall Street Analyst Weigh In

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