Hsbc Holdings PLC Has $1.65 Million Stake in Cal-Maine Foods, Inc. $CALM

Key Points

• Hsbc Holdings PLC increased its stake in Cal-Maine Foods by 113.6%, owning 18,215 shares valued at approximately $1.65 million after acquiring additional shares during the first quarter.
• Cal-Maine Foods announced a significant increase in its quarterly dividend, raising it from $1.49 to $3.46 per share, representing a yield of 12.0%.
• The company had a strong quarterly performance, reporting earnings per share of $7.04, surpassing analysts' estimates and reflecting a 72.1% year-over-year revenue growth.

Hsbc Holdings PLC lifted its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 113.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,215 shares of the basic materials company's stock after buying an additional 9,687 shares during the quarter. Hsbc Holdings PLC's holdings in Cal-Maine Foods were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Captrust Financial Advisors lifted its stake in shares of Cal-Maine Foods by 0.3% in the fourth quarter. Captrust Financial Advisors now owns 55,892 shares of the basic materials company's stock worth $5,752,000 after buying an additional 163 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Cal-Maine Foods by 8.2% in the first quarter. Sequoia Financial Advisors LLC now owns 2,511 shares of the basic materials company's stock worth $228,000 after acquiring an additional 191 shares during the last quarter. Monument Capital Management grew its stake in shares of Cal-Maine Foods by 6.2% in the first quarter. Monument Capital Management now owns 3,358 shares of the basic materials company's stock worth $305,000 after acquiring an additional 195 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in shares of Cal-Maine Foods by 2.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 7,713 shares of the basic materials company's stock worth $701,000 after acquiring an additional 195 shares during the last quarter. Finally, Krane Funds Advisors LLC grew its stake in shares of Cal-Maine Foods by 4.1% in the first quarter. Krane Funds Advisors LLC now owns 5,096 shares of the basic materials company's stock worth $463,000 after acquiring an additional 203 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Price Performance

Shares of NASDAQ CALM traded down $5.41 during trading hours on Wednesday, reaching $110.60. The stock had a trading volume of 922,240 shares, compared to its average volume of 654,784. The business's fifty day moving average is $107.43 and its two-hundred day moving average is $98.17. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 4.43 and a beta of 0.27. Cal-Maine Foods, Inc. has a twelve month low of $68.22 and a twelve month high of $126.40.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 EPS for the quarter, beating analysts' consensus estimates of $5.29 by $1.75. The business had revenue of $1.10 billion during 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%.Cal-Maine Foods's revenue was up 72.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.32 earnings per share. Sell-side analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 4th were paid a $3.46 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $13.84 annualized dividend and a yield of 12.5%. This is a positive change from Cal-Maine Foods's previous quarterly dividend of $1.49. Cal-Maine Foods's payout ratio is presently 37.76%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Cal-Maine Foods in a research note on Thursday, August 14th. They issued a "neutral" rating and a $110.00 price objective on the stock. Wall Street Zen downgraded shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. 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 research note on Thursday, July 24th. Finally, Stephens raised their price objective on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Cal-Maine Foods currently has an average rating of "Hold" and a consensus target price of $110.00.

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.