Cal-Maine Foods, Inc. $CALM Shares Bought by Monument Capital Management

Key Points

• Monument Capital Management significantly increased its holdings in Cal-Maine Foods, acquiring an additional 25,092 shares, bringing its total to 28,450 shares, valued at approximately $2.83 million.
• Cal-Maine Foods recently declared a quarterly dividend of $1.37, resulting in an annualized dividend yield of 6.0%, with a payout ratio of 36.22%.
• The company's most recent earnings report showed an earnings per share (EPS) of $4.12, falling short of analysts’ expectations by $0.43, with revenues increasing 17.4% year-over-year.

Monument Capital Management grew its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 747.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,450 shares of the basic materials company's stock after acquiring an additional 25,092 shares during the quarter. Monument Capital Management owned about 0.06% of Cal-Maine Foods worth $2,834,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CALM. Nuveen LLC acquired a new stake in Cal-Maine Foods during the first quarter worth about $35,322,000. Jupiter Asset Management Ltd. grew its stake in shares of Cal-Maine Foods by 336.5% in the first quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company's stock valued at $44,288,000 after buying an additional 375,604 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Cal-Maine Foods by 315.2% in the first quarter. Empowered Funds LLC now owns 251,228 shares of the basic materials company's stock valued at $22,837,000 after buying an additional 190,715 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Cal-Maine Foods by 13.4% in the first 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. Finally, Northern Trust Corp grew its stake in shares of Cal-Maine Foods by 23.5% in the first 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. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Trading Down 0.6%

Shares of CALM opened at $91.55 on Friday. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 3.52 and a beta of 0.22. The stock has a 50 day moving average of $105.72 and a 200-day moving average of $100.40. Cal-Maine Foods, Inc. has a 52 week low of $79.55 and a 52 week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.55 by ($0.43). The firm had revenue of $922.60 million for the quarter, compared to analyst estimates of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The business's revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 earnings per share. On average, sell-side analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Wednesday, October 29th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Wednesday, October 29th. Cal-Maine Foods's dividend payout ratio (DPR) is presently 36.22%.

Insider Activity

In other Cal-Maine Foods news, insider Keira L. Lombardo purchased 2,800 shares of Cal-Maine Foods stock in a transaction dated Thursday, October 2nd. The shares were bought at an average cost of $92.36 per share, for a total transaction of $258,608.00. Following the transaction, the insider owned 3,738 shares in the company, valued at $345,241.68. This represents a 298.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.90% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CALM shares. Wall Street Zen lowered Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. Lake Street Capital set a $97.00 price objective on Cal-Maine Foods in a research note on Friday, October 3rd. 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 research note on Thursday, July 24th. The Goldman Sachs Group lowered their price objective on Cal-Maine Foods from $110.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday, October 3rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Cal-Maine Foods in a research note on Saturday, September 27th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cal-Maine Foods presently has an average rating of "Hold" and an average target price of $101.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.