LGT Fund Management Co Ltd. Has $3.74 Million Stock Holdings in Cal-Maine Foods, Inc. $CALM

Key Points

• LGT Fund Management Co Ltd. increased its holdings in Cal-Maine Foods by 28%, acquiring an additional 8,206 shares, bringing their total to 37,500 shares valued at approximately $3.74 million.
• Cal-Maine Foods reported a net income of $4.12 per share for the last quarter, missing estimates and reflecting a 17.4% increase in revenue compared to the same quarter last year.
• Analysts have varying outlooks on Cal-Maine Foods, with target prices ranging from $97.00 to $115.00, while the stock maintains a consensus rating of "Hold."

LGT Fund Management Co Ltd. lifted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 28.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,500 shares of the basic materials company's stock after buying an additional 8,206 shares during the period. LGT Fund Management Co Ltd. owned about 0.08% of Cal-Maine Foods worth $3,736,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Investment Management Corp VA ADV boosted 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 worth $36,000 after buying an additional 248 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Cal-Maine Foods during the 1st quarter worth about $52,000. AdvisorNet Financial Inc acquired a new position in shares of Cal-Maine Foods during the 2nd quarter worth about $54,000. Blue Trust Inc. boosted its stake 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 worth $56,000 after buying an additional 493 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Cal-Maine Foods by 1,470.5% during the 1st quarter. Quarry LP now owns 691 shares of the basic materials company's stock worth $63,000 after buying an additional 647 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CALM has been the subject of several recent analyst reports. 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. BMO Capital Markets cut their target price on shares of Cal-Maine Foods from $105.00 to $97.00 and set a "market perform" rating for the company in a research note on Friday. Weiss Ratings reiterated a "buy (b)" rating on shares of Cal-Maine Foods in a research note on Saturday, September 27th. The Goldman Sachs Group cut their target price on shares of Cal-Maine Foods from $110.00 to $98.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Wall Street Zen downgraded shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $101.75.

Cal-Maine Foods Stock Down 0.0%

Cal-Maine Foods stock opened at $92.56 on Friday. The stock has a market cap of $4.54 billion, a P/E ratio of 3.56 and a beta of 0.22. Cal-Maine Foods, Inc. has a twelve month low of $79.44 and a twelve month high of $126.40. The company's 50-day moving average price is $107.03 and its two-hundred day moving average price is $100.34.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings results on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing the consensus estimate of $4.55 by ($0.43). The company had revenue of $922.60 million during the quarter, compared to the consensus estimate of $931.62 million. Cal-Maine Foods had a net margin of 28.86% and a return on equity of 52.31%. The firm's revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.06 earnings per share. Equities analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Wednesday, October 29th. Cal-Maine Foods's dividend 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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