Kestra Investment Management LLC Acquires 3,466 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• Kestra Investment Management LLC increased its stake in Cal-Maine Foods, owning 33,425 shares after a purchase of 3,466 shares in Q1, and now holds a value of $3,038,000 in the company.
• Cal-Maine Foods saw a significant rise in revenue, reporting $1.10 billion in the latest quarter, surpassing analyst expectations of $877.03 million.
• The company declared a quarterly dividend of $3.46 per share, a rise from its previous dividend, resulting in an annualized yield of 12.2%.

Kestra Investment Management LLC boosted its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,425 shares of the basic materials company's stock after purchasing an additional 3,466 shares during the quarter. Kestra Investment Management LLC owned approximately 0.07% of Cal-Maine Foods worth $3,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Financial Management Professionals Inc. bought a new position in shares of Cal-Maine Foods in the first quarter valued at approximately $30,000. Investment Management Corp VA ADV lifted its stake in 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 purchasing an additional 248 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Cal-Maine Foods in the 1st quarter valued at $52,000. Blue Trust Inc. grew 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 purchasing an additional 493 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Cal-Maine Foods by 1,470.5% in the first quarter. Quarry LP now owns 691 shares of the basic materials company's stock worth $63,000 after purchasing an additional 647 shares during the period. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Stock Up 0.8%

Shares of CALM traded up $0.82 during trading hours on Wednesday, hitting $109.50. The company had a trading volume of 749,592 shares, compared to its average volume of 671,132. Cal-Maine Foods, Inc. has a 52-week low of $68.55 and a 52-week high of $126.40. The stock's 50 day moving average price is $108.39 and its 200 day moving average price is $98.77. The firm has a market cap of $5.37 billion, a P/E ratio of 4.36 and a beta of 0.27.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings results 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. Cal-Maine Foods had a return on equity of 54.81% and a net margin of 28.63%.The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $877.03 million. During the same period last year, the company earned $2.32 EPS. Cal-Maine Foods's revenue for the quarter was up 72.1% compared to the same quarter last year. On average, research analysts expect 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. Investors of record on Monday, August 4th were paid a $3.46 dividend. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Cal-Maine Foods's previous quarterly dividend of $1.49. This represents a $13.84 annualized dividend and a dividend yield of 12.6%. Cal-Maine Foods's payout ratio is presently 37.76%.

Analyst Upgrades and Downgrades

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

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.