Cal-Maine Foods, Inc. $CALM Shares Bought by Vident Advisory LLC

Key Points

• Vident Advisory LLC raised its stake in Cal-Maine Foods by 13.5% in the first quarter, holding approximately $2.70 million worth of shares.
• Cal-Maine Foods recently announced a significant dividend increase to $3.46 per share, yielding 12.0%, compared to its previous dividend of $1.49.
• The company reported a strong EPS of $7.04, exceeding analyst expectations and reflecting a 72.1% year-over-year revenue increase to $1.10 billion.

Vident Advisory LLC grew its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 13.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,738 shares of the basic materials company's stock after purchasing an additional 3,531 shares during the period. Vident Advisory LLC owned about 0.06% of Cal-Maine Foods worth $2,703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Cal-Maine Foods during the first quarter worth about $527,000. Bank of New York Mellon Corp increased its position in shares of Cal-Maine Foods by 8.7% during the first quarter. Bank of New York Mellon Corp now owns 562,810 shares of the basic materials company's stock worth $51,159,000 after acquiring an additional 45,201 shares during the period. KBC Group NV increased its position in shares of Cal-Maine Foods by 23.2% during the first quarter. KBC Group NV now owns 2,071 shares of the basic materials company's stock worth $188,000 after acquiring an additional 390 shares during the period. GAMMA Investing LLC increased its position in shares of Cal-Maine Foods by 25.7% during the first quarter. GAMMA Investing LLC now owns 1,720 shares of the basic materials company's stock worth $156,000 after acquiring an additional 352 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Cal-Maine Foods during the fourth quarter worth $1,123,000. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Trading Up 0.7%

Shares of Cal-Maine Foods stock traded up $0.76 during trading hours on Friday, hitting $113.83. 710,433 shares of the company were exchanged, compared to its average volume of 947,829. Cal-Maine Foods, Inc. has a 1 year low of $68.22 and a 1 year high of $126.40. The business has a 50-day moving average of $107.72 and a 200-day moving average of $98.30. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 4.56 and a beta of 0.27.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The basic materials company reported $7.04 EPS 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 business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $877.03 million. During the same quarter in the prior year, the business earned $2.32 earnings per share. The company's quarterly revenue was up 72.1% compared to the same quarter last year. As a group, research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 4th were paid a $3.46 dividend. This represents a $13.84 dividend on an annualized basis and a dividend yield of 12.2%. This is a boost from Cal-Maine Foods's previous quarterly dividend of $1.49. The ex-dividend date was Monday, August 4th. Cal-Maine Foods's dividend payout ratio (DPR) is presently 37.76%.

Analysts Set New Price Targets

CALM has been the topic of a number of recent research reports. Stephens upped their price objective on 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 increased their target price on Cal-Maine Foods from $100.00 to $105.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. The Goldman Sachs Group initiated coverage on Cal-Maine Foods in a report on Thursday, August 14th. They issued a "neutral" rating and a $110.00 price target for the company. Finally, Wall Street Zen downgraded Cal-Maine Foods from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently 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.