Strs Ohio Makes New $1.15 Million Investment in Cal-Maine Foods, Inc. $CALM

Key Points

• Strs Ohio has acquired a new stake in Cal-Maine Foods, Inc., purchasing 12,700 shares valued at approximately $1,154,000.
• Wall Street analysts have recently increased their price targets for Cal-Maine Foods, with a consensus target price of $110.00 and an average rating of "Hold."
• Cal-Maine Foods recently declared a quarterly dividend of $3.46, resulting in an annualized dividend yield of 13.4%, up from the previous dividend of $1.49.

Strs Ohio purchased a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,700 shares of the basic materials company's stock, valued at approximately $1,154,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Evergreen Capital Management LLC raised its position in shares of Cal-Maine Foods by 2.5% during 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 period. Sequoia Financial Advisors LLC raised its position in Cal-Maine Foods by 8.2% in the 1st 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 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 buying an additional 195 shares during the last quarter. Resona Asset Management Co. Ltd. raised its position in 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 buying an additional 195 shares during the last quarter. Finally, Krane Funds Advisors LLC raised its position in Cal-Maine Foods by 4.1% in the 1st quarter. Krane Funds Advisors LLC now owns 5,096 shares of the basic materials company's stock valued at $463,000 after buying an additional 203 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Stock Down 4.3%

CALM traded down $4.47 during trading hours on Friday, hitting $100.00. The stock had a trading volume of 1,892,011 shares, compared to its average volume of 698,044. The company's fifty day simple moving average is $109.13 and its 200 day simple moving average is $99.89. Cal-Maine Foods, Inc. has a 1 year low of $72.48 and a 1 year high of $126.40. The stock has a market cap of $4.91 billion, a PE ratio of 4.01 and a beta of 0.27.

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, 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 company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $877.03 million. During the same quarter last year, the firm posted $2.32 EPS. The firm's revenue for the quarter was up 72.1% on a year-over-year basis. As a group, equities analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 4th were issued a $3.46 dividend. This is an increase from Cal-Maine Foods's previous quarterly dividend of $1.49. The ex-dividend date of this dividend was Monday, August 4th. This represents a $13.84 annualized dividend and a yield of 13.8%. Cal-Maine Foods's payout ratio is 37.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CALM shares. Wall Street Zen lowered Cal-Maine Foods from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. The Goldman Sachs Group started coverage on Cal-Maine Foods in a research report on Thursday, August 14th. They issued a "neutral" rating and a $110.00 price target for the company. Stephens increased their price target 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. Finally, BMO Capital Markets increased their price target on Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a research 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 a consensus rating of "Hold" and a consensus target price of $110.00.

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.