Directional Asset Management Acquires New Shares in Cal-Maine Foods, Inc. $CALM

Key Points

• Directional Asset Management initiated a new stake of 13,747 shares in Cal‑Maine in Q4, valued at about $1.09M, while other institutions also increased positions, leaving institutional ownership around 84.67%.
• Cal‑Maine beat the quarter (EPS $1.06 vs. $0.89; revenue $666.95M vs. $655.82M) but revenue fell ~53% year‑over‑year; the company declared a quarterly dividend of $0.36 and the Street consensus is a Hold with a $93 price target.

Directional Asset Management acquired a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,747 shares of the basic materials company's stock, valued at approximately $1,094,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CALM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cal-Maine Foods by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company's stock valued at $2,218,000 after purchasing an additional 1,057 shares during the last quarter. NewEdge Advisors LLC grew its stake in Cal-Maine Foods by 100.8% in the first quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company's stock valued at $726,000 after purchasing an additional 4,009 shares during the last quarter. United Services Automobile Association purchased a new position in Cal-Maine Foods in the first quarter valued at about $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Cal-Maine Foods by 10.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company's stock valued at $7,765,000 after purchasing an additional 7,736 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Cal-Maine Foods by 323.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,087 shares of the basic materials company's stock valued at $108,000 after purchasing an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CALM. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cal-Maine Foods in a research note on Friday, March 27th. Stephens lifted their target price on Cal-Maine Foods from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 18th. BMO Capital Markets cut their target price on Cal-Maine Foods from $85.00 to $80.00 and set a "market perform" rating on the stock in a research note on Wednesday, March 25th. Finally, Benchmark reiterated a "buy" rating on shares of Cal-Maine Foods in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $93.00.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $76.18 on Friday. Cal-Maine Foods, Inc. has a fifty-two week low of $71.92 and a fifty-two week high of $126.40. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 5.31 and a beta of 0.32. The stock's 50-day simple moving average is $81.63 and its 200-day simple moving average is $83.83.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 1st. The basic materials company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.17. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.The business had revenue of $666.95 million for the quarter, compared to analyst estimates of $655.82 million. During the same quarter in the previous year, the firm earned $10.39 earnings per share. The company's revenue was down 53.0% on a year-over-year basis.

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th will be paid a dividend of $0.36 per share. The ex-dividend date is Wednesday, April 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.9%. Cal-Maine Foods's payout ratio is presently 20.14%.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.

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