Intech Investment Management LLC Has $13.38 Million Stock Holdings in Cal-Maine Foods, Inc. $CALM

Key Points

• Intech Investment Management LLC increased its holdings in Cal-Maine Foods by 13.6%, owning approximately $13.38 million worth of stock after purchasing an additional 17,655 shares.
• Cal-Maine Foods recently declared a quarterly dividend of $3.46 per share, representing an annualized dividend of $13.84 and a yield of 12.6%, up from a previous dividend of $1.49.
• Financial analysts currently rate Cal-Maine Foods with a consensus rating of "Hold" and a target price of $110.00, following recent adjustments from various firms.

Intech Investment Management LLC boosted its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 13.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 147,216 shares of the basic materials company's stock after purchasing an additional 17,655 shares during the quarter. Intech Investment Management LLC owned about 0.30% of Cal-Maine Foods worth $13,382,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CALM. Man Group plc grew its holdings in Cal-Maine Foods by 258.7% in the fourth quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock worth $59,973,000 after purchasing an additional 420,247 shares during the period. Millennium Management LLC grew its holdings in shares of Cal-Maine Foods by 515.1% during the fourth quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company's stock valued at $49,142,000 after buying an additional 399,848 shares during the last quarter. Nuveen LLC acquired a new position in shares of Cal-Maine Foods during the first quarter valued at about $35,322,000. Jupiter Asset Management Ltd. grew its holdings in shares of Cal-Maine Foods by 336.5% during 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 during the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Cal-Maine Foods by 315.2% during 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 during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. The Goldman Sachs Group assumed coverage on shares of Cal-Maine Foods in a report on Thursday, August 14th. They set a "neutral" rating and a $110.00 price objective for the company. Stephens lifted their price objective on shares of 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, BMO Capital Markets lifted their price objective on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Cal-Maine Foods currently has a consensus rating of "Hold" and a consensus target price of $110.00.

Cal-Maine Foods Stock Performance

Cal-Maine Foods stock opened at $109.50 on Thursday. Cal-Maine Foods, Inc. has a fifty-two week low of $68.55 and a fifty-two week high of $126.40. The stock has a market cap of $5.37 billion, a PE ratio of 4.39 and a beta of 0.27. The firm's 50-day simple moving average is $108.51 and its 200 day simple moving average is $98.85.

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

Cal-Maine Foods Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 4th were issued a dividend of $3.46 per share. This represents a $13.84 annualized dividend and a yield of 12.6%. This is a boost from Cal-Maine Foods's previous quarterly dividend of $1.49. The ex-dividend date was Monday, August 4th. Cal-Maine Foods's dividend payout ratio is presently 37.76%.

Cal-Maine Foods 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.

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