Cal-Maine Foods, Inc. $CALM Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp has increased its stake in Cal-Maine Foods by 23.5%, holding approximately 833,054 shares valued at about $75.7 million.
• Cal-Maine Foods posted earnings of $7.04 per share, significantly surpassing analysts' expectations of $5.29, with quarterly revenue up 72.1% year-over-year.
• The stock has a 52-week range between $68.22 and $126.40, with a current market cap of $5.69 billion and a P/E ratio of 4.65.

Northern Trust Corp lifted its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 23.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 833,054 shares of the basic materials company's stock after acquiring an additional 158,719 shares during the quarter. Northern Trust Corp owned 1.70% of Cal-Maine Foods worth $75,725,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CALM. Man Group plc lifted its holdings in Cal-Maine Foods by 258.7% during the 4th quarter. Man Group plc now owns 582,711 shares of the basic materials company's stock worth $59,973,000 after buying an additional 420,247 shares in the last quarter. Millennium Management LLC lifted its holdings in Cal-Maine Foods by 515.1% during the 4th quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company's stock worth $49,142,000 after buying an additional 399,848 shares in the last quarter. Nuveen LLC acquired a new stake in Cal-Maine Foods during the 1st quarter worth approximately $35,322,000. Jupiter Asset Management Ltd. lifted its holdings in Cal-Maine Foods by 336.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company's stock worth $44,288,000 after buying an additional 375,604 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Cal-Maine Foods by 13.4% during the 1st quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company's stock worth $130,618,000 after buying an additional 170,322 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Price Performance

Shares of CALM traded up $0.24 during midday trading on Friday, reaching $115.64. The stock had a trading volume of 544,363 shares, compared to its average volume of 738,711. Cal-Maine Foods, Inc. has a 1-year low of $68.22 and a 1-year high of $126.40. The company's fifty day simple moving average is $106.64 and its two-hundred day simple moving average is $97.89. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 4.63 and a beta of 0.19.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The basic materials company reported $7.04 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $877.03 million. During the same period last year, the business earned $2.32 EPS. The company's revenue was up 72.1% on a year-over-year basis. On average, sell-side analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 4th were paid a dividend of $3.46 per share. The ex-dividend date was Monday, August 4th. This represents a $13.84 annualized dividend and a yield of 12.0%. This is an increase from Cal-Maine Foods's previous quarterly dividend of $1.49. Cal-Maine Foods's dividend payout ratio (DPR) is 37.76%.

Analyst Ratings Changes

CALM has been the topic of a number of research reports. Wall Street Zen lowered shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. BMO Capital Markets increased their target price on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. The Goldman Sachs Group initiated coverage on shares of Cal-Maine Foods in a report on Thursday, August 14th. They set a "neutral" rating and a $110.00 target price on the stock. Finally, Stephens increased their target price on shares of 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 research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average 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.