State of Alaska Department of Revenue Purchases 3,136 Shares of Cal-Maine Foods, Inc. $CALM

Key Points

• The State of Alaska Department of Revenue increased its stake in Cal-Maine Foods by 13.9%, holding 25,686 shares valued at approximately $2.56 million after acquiring an additional 3,136 shares.
• Cal-Maine Foods reported $4.12 earnings per share for the quarter, falling short of expectations, while revenue increased 17.4% year-over-year to $922.6 million.
• The company recently declared a quarterly dividend of $3.46 per share, representing a significant increase from the previous dividend and a yield of 14.9%.

State of Alaska Department of Revenue raised its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 13.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,686 shares of the basic materials company's stock after purchasing an additional 3,136 shares during the quarter. State of Alaska Department of Revenue owned 0.05% of Cal-Maine Foods worth $2,558,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CALM. Evergreen Capital Management LLC increased its position in Cal-Maine Foods by 2.5% in the first quarter. Evergreen Capital Management LLC now owns 5,898 shares of the basic materials company's stock worth $536,000 after purchasing an additional 143 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Cal-Maine Foods by 20.4% during the second quarter. Harbor Capital Advisors Inc. now owns 1,108 shares of the basic materials company's stock valued at $110,000 after buying an additional 188 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Cal-Maine Foods by 8.2% during the first quarter. Sequoia Financial Advisors LLC now owns 2,511 shares of the basic materials company's stock valued at $228,000 after buying an additional 191 shares during the last quarter. Monument Capital Management raised its position in shares of Cal-Maine Foods by 6.2% in the 1st quarter. Monument Capital Management now owns 3,358 shares of the basic materials company's stock valued at $305,000 after purchasing an additional 195 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. raised its position in shares of Cal-Maine Foods by 2.6% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 7,713 shares of the basic materials company's stock valued at $701,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $92.96 on Thursday. The stock's fifty day moving average is $107.54 and its two-hundred day moving average is $100.30. The firm has a market capitalization of $4.56 billion, a P/E ratio of 3.73 and a beta of 0.22. Cal-Maine Foods, Inc. has a fifty-two week low of $74.00 and a fifty-two week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 1st. The basic materials company reported $4.12 earnings per share for the quarter, missing analysts' consensus estimates of $4.55 by ($0.43). The firm had revenue of $922.60 million during the quarter, compared to analysts' expectations of $931.62 million. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. The company's revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.06 EPS. On average, equities 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. Stockholders of record on Monday, August 4th were issued a dividend of $3.46 per share. The ex-dividend date was Monday, August 4th. This represents a $13.84 annualized dividend and a dividend yield of 14.9%. This is a boost from Cal-Maine Foods's previous quarterly dividend of $1.49. Cal-Maine Foods's payout ratio is presently 37.76%.

Analysts Set New Price Targets

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