OMERS ADMINISTRATION Corp Raises Stock Position in Cal-Maine Foods, Inc. $CALM

Key Points

• OMERS ADMINISTRATION Corp increased its holdings in Cal-Maine Foods by 280.7%, acquiring an additional 39,719 shares to own a total of 53,869 shares valued at approximately $4.9 million.
• Cal-Maine Foods recently declared a quarterly dividend of $3.46 per share, a significant increase from the prior dividend of $1.49, resulting in a 12.0% dividend yield.
• Wall Street analysts have a consensus rating of "Hold" on Cal-Maine Foods, with price targets ranging from $105.00 to $115.00, indicating potential growth.

OMERS ADMINISTRATION Corp boosted its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 280.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,869 shares of the basic materials company's stock after buying an additional 39,719 shares during the period. OMERS ADMINISTRATION Corp owned approximately 0.11% of Cal-Maine Foods worth $4,897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Cal-Maine Foods during the 1st quarter valued at $527,000. Bank of New York Mellon Corp grew its position in shares of Cal-Maine Foods by 8.7% during the 1st quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company's stock valued at $51,159,000 after purchasing an additional 45,201 shares in the last quarter. KBC Group NV grew its position in shares of Cal-Maine Foods by 23.2% during the 1st quarter. KBC Group NV now owns 2,071 shares of the basic materials company's stock valued at $188,000 after purchasing an additional 390 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Cal-Maine Foods by 25.7% during the 1st quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company's stock valued at $156,000 after purchasing an additional 352 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Cal-Maine Foods during the 4th quarter valued at $1,123,000. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CALM. The Goldman Sachs Group began coverage on shares of Cal-Maine Foods in a research report on Thursday, August 14th. They issued a "neutral" rating and a $110.00 target price for the company. Stephens upped 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 research report on Thursday, July 24th. BMO Capital Markets upped 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 research report 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 report on Saturday, August 23rd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, Cal-Maine Foods presently has an average rating of "Hold" and an average price target of $110.00.

Cal-Maine Foods Stock Performance

Shares of NASDAQ:CALM traded up $0.29 during trading on Tuesday, reaching $115.93. 438,056 shares of the stock traded hands, compared to its average volume of 950,312. The stock has a 50-day moving average of $106.92 and a two-hundred day moving average of $97.96. Cal-Maine Foods, Inc. has a 52-week low of $68.22 and a 52-week high of $126.40. The stock has a market cap of $5.69 billion, a P/E ratio of 4.64 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 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $877.03 million. During the same quarter in the prior year, the firm earned $2.32 earnings per share. The firm's revenue for the quarter was up 72.1% compared to the same quarter last year. Sell-side analysts expect 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. Shareholders of record on Monday, August 4th were issued a $3.46 dividend. The ex-dividend date was Monday, August 4th. This represents a $13.84 dividend on an annualized basis and a yield of 11.9%. This is an increase from Cal-Maine Foods's previous quarterly dividend of $1.49. Cal-Maine Foods's payout ratio is presently 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.