UBS Group AG Has $32.26 Million Stock Position in Cal-Maine Foods, Inc. $CALM

Key Points

• UBS Group AG increased its stake in Cal-Maine Foods by 17.3% in the fourth quarter, bringing its holdings to 405,459 shares worth about $32.26 million.
• Cal-Maine’s latest quarter beat expectations, reporting EPS of $1.06 versus the $0.89 consensus and revenue of $666.95 million, though revenue was still down 53% from a year earlier.
• The company cut its quarterly dividend to $0.36 per share, implying a 1.9% annualized yield, while Wall Street’s overall view remains cautious with an average rating of Hold.

UBS Group AG raised its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 17.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 405,459 shares of the basic materials company's stock after purchasing an additional 59,659 shares during the quarter. UBS Group AG owned 0.85% of Cal-Maine Foods worth $32,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CALM. WealthCollab LLC boosted its holdings in shares of Cal-Maine Foods by 105.2% in the 4th quarter. WealthCollab LLC now owns 431 shares of the basic materials company's stock worth $34,000 after acquiring an additional 221 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Cal-Maine Foods by 58.2% in the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company's stock worth $37,000 after acquiring an additional 139 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Cal-Maine Foods by 46.5% in the 4th quarter. Signaturefd LLC now owns 488 shares of the basic materials company's stock worth $39,000 after acquiring an additional 155 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Cal-Maine Foods in the 3rd quarter worth approximately $42,000. Finally, Quarry LP boosted its holdings in shares of Cal-Maine Foods by 146.6% in the 3rd quarter. Quarry LP now owns 587 shares of the basic materials company's stock worth $55,000 after acquiring an additional 349 shares in the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Performance

NASDAQ:CALM opened at $76.09 on Friday. The stock's fifty day moving average price is $80.54 and its two-hundred day moving average price is $82.78. Cal-Maine Foods, Inc. has a 52-week low of $71.92 and a 52-week high of $126.40. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 5.30 and a beta of 0.28.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 1st. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.17. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.The firm had revenue of $666.95 million for the quarter, compared to the consensus estimate of $655.82 million. During the same quarter in the prior year, the business earned $10.39 EPS. The business's revenue for the quarter was down 53.0% compared to the same quarter last year.

Cal-Maine Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $1.44 annualized dividend and a yield of 1.9%. Cal-Maine Foods's dividend payout ratio is currently 9.97%.

Wall Street Analysts Forecast Growth

CALM has been the topic of several recent analyst reports. BMO Capital Markets reduced their target price on Cal-Maine Foods from $85.00 to $80.00 and set a "market perform" rating on the stock in a report on Wednesday, March 25th. Weiss Ratings reissued a "hold (c+)" rating on shares of Cal-Maine Foods in a report on Friday, March 27th. Benchmark reissued a "buy" rating on shares of Cal-Maine Foods in a report on Tuesday, March 3rd. Finally, Stephens boosted their target price on Cal-Maine Foods from $85.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $93.00.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.

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