Hartree Partners LP Makes New $909,000 Investment in Cal-Maine Foods, Inc. $CALM

Key Points

• Hartree Partners LP has acquired a new stake in Cal-Maine Foods, purchasing 10,000 shares valued at approximately $909,000.
• Cal-Maine Foods reported a significant earnings beat with $7.04 EPS for the quarter, greatly exceeding analysts' expectations of $5.29, and showed a 72.1% increase in revenue year-over-year.
• As of the latest analysis, the stock has a consensus rating of "Hold" with a target price of $110.00, following recent upgrades and downgrades from several analysts.

Hartree Partners LP bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,000 shares of the basic materials company's stock, valued at approximately $909,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Management Professionals Inc. bought a new stake in shares of Cal-Maine Foods during the first quarter worth about $30,000. Investment Management Corp VA ADV lifted its stake in shares of Cal-Maine Foods by 172.2% during the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock valued at $36,000 after buying an additional 248 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Cal-Maine Foods in the 1st quarter worth approximately $52,000. Blue Trust Inc. raised its position in shares of Cal-Maine Foods by 388.2% during the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after buying an additional 493 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Cal-Maine Foods during the 1st quarter valued at $77,000. Institutional investors and hedge funds own 84.67% of the company's stock.

Analyst Ratings Changes

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

Cal-Maine Foods Price Performance

Shares of CALM traded down $1.79 during midday trading on Thursday, reaching $115.02. The stock had a trading volume of 194,409 shares, compared to its average volume of 954,191. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 4.61 and a beta of 0.19. Cal-Maine Foods, Inc. has a 1-year low of $68.22 and a 1-year high of $126.40. The company's fifty day simple moving average is $106.12 and its two-hundred day simple moving average is $97.90.

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

Cal-Maine Foods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Monday, August 4th were paid a dividend of $3.46 per share. This is an increase from Cal-Maine Foods's previous quarterly dividend of $1.49. This represents a $13.84 dividend on an annualized basis and a yield of 12.0%. The ex-dividend date was Monday, August 4th. Cal-Maine Foods's dividend payout ratio is presently 37.76%.

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.