Jacobs Levy Equity Management Inc. Has $3.41 Million Stock Holdings in Cal-Maine Foods, Inc. $CALM

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Cal-Maine Foods by 110.2%, holding a total of 37,561 shares worth approximately $3.41 million as of the latest SEC filing.
• Cal-Maine Foods recently announced a significant increase in its quarterly dividend from $1.49 to $3.46, representing an annualized yield of 12.7%.
• The company's latest quarterly earnings report revealed an EPS of $7.04, exceeding estimates by $1.75, with a year-over-year revenue growth of 72.1%.

Jacobs Levy Equity Management Inc. boosted its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 110.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,561 shares of the basic materials company's stock after purchasing an additional 19,694 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.08% of Cal-Maine Foods worth $3,414,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in shares of Cal-Maine Foods in the 1st quarter worth about $30,000. Investment Management Corp VA ADV grew its stake in shares of Cal-Maine Foods by 172.2% in the 1st quarter. Investment Management Corp VA ADV now owns 392 shares of the basic materials company's stock worth $36,000 after acquiring an additional 248 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Cal-Maine Foods during the 1st quarter worth approximately $52,000. Blue Trust Inc. grew its stake in Cal-Maine Foods by 388.2% in the 1st quarter. Blue Trust Inc. now owns 620 shares of the basic materials company's stock valued at $56,000 after purchasing an additional 493 shares during the period. Finally, Quarry LP grew its position in Cal-Maine Foods by 1,470.5% during the first quarter. Quarry LP now owns 691 shares of the basic materials company's stock valued at $63,000 after buying an additional 647 shares during the period. Institutional investors own 84.67% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CALM. The Goldman Sachs Group assumed coverage on 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 cut shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. BMO Capital Markets increased their target price on Cal-Maine Foods from $100.00 to $105.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Finally, Stephens raised their price target on Cal-Maine Foods from $108.00 to $115.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $110.00.

Cal-Maine Foods Stock Down 2.6%

Shares of NASDAQ CALM opened at $108.68 on Wednesday. The stock's 50-day simple moving average is $108.39 and its two-hundred day simple moving average is $98.77. Cal-Maine Foods, Inc. has a twelve month low of $68.46 and a twelve month high of $126.40. The firm has a market capitalization of $5.33 billion, a P/E ratio of 4.36 and a beta of 0.27.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The basic materials company reported $7.04 EPS for the quarter, topping the consensus estimate of $5.29 by $1.75. The company 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 quarter in the previous year, the firm earned $2.32 earnings per share. As a group, research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Monday, August 4th were paid a $3.46 dividend. This is an increase from Cal-Maine Foods's previous quarterly dividend of $1.49. This represents a $13.84 annualized dividend and a yield of 12.7%. The ex-dividend date of this dividend was Monday, August 4th. Cal-Maine Foods's payout ratio is currently 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.

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