Jump Financial LLC Takes Position in Cal-Maine Foods, Inc. $CALM

Key Points

• Jump Financial LLC has acquired a new stake in Cal-Maine Foods, purchasing 6,967 shares valued at approximately $633,000 during the first quarter.
• Cal-Maine Foods reported a significant earnings increase, with $7.04 EPS for the quarter, exceeding estimates by $1.75 and marking a 72.1% year-over-year revenue growth.
• The company recently increased its quarterly dividend to $3.46, substantially up from the previous $1.49, representing a yield of 12.0%.

Jump Financial LLC acquired a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,967 shares of the basic materials company's stock, valued at approximately $633,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CALM. Financial Management Professionals Inc. acquired a new stake in shares of Cal-Maine Foods in the 1st quarter valued at $30,000. Investment Management Corp VA ADV raised its holdings 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 valued at $36,000 after purchasing an additional 248 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Cal-Maine Foods in the 1st quarter valued at $52,000. Blue Trust Inc. raised its holdings in shares of 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 in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Cal-Maine Foods in the 1st quarter valued at $77,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM opened at $115.64 on Monday. The company's fifty day moving average price is $106.64 and its 200 day moving average price is $97.82. Cal-Maine Foods, Inc. has a 12 month low of $68.22 and a 12 month high of $126.40. The firm has a market capitalization of $5.67 billion, a P/E ratio of 4.63 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 earnings per share (EPS) for the quarter, topping 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%. Cal-Maine Foods's revenue for the quarter was up 72.1% on a year-over-year basis. During the same period last year, the firm posted $2.32 EPS. On average, sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Increases Dividend

The firm also recently disclosed 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 a boost 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 (DPR) is presently 37.72%.

Analysts Set New Price Targets

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

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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