Raymond James & Associates Increases Stock Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Raymond James & Associates lifted its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 73.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,618 shares of the basic materials company's stock after purchasing an additional 85,201 shares during the quarter. Raymond James & Associates owned 0.41% of Cal-Maine Foods worth $11,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CALM. Exchange Traded Concepts LLC bought a new stake in shares of Cal-Maine Foods during the 3rd quarter valued at approximately $29,000. Byrne Asset Management LLC bought a new stake in Cal-Maine Foods during the 3rd quarter worth approximately $29,000. Signaturefd LLC grew its holdings in Cal-Maine Foods by 44.2% during the 3rd quarter. Signaturefd LLC now owns 760 shares of the basic materials company's stock worth $37,000 after acquiring an additional 233 shares during the last quarter. US Bancorp DE grew its holdings in Cal-Maine Foods by 39.1% during the 1st quarter. US Bancorp DE now owns 1,095 shares of the basic materials company's stock worth $61,000 after acquiring an additional 308 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in Cal-Maine Foods during the 3rd quarter worth approximately $67,000. 84.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stephens reissued an "equal weight" rating and set a $65.00 target price on shares of Cal-Maine Foods in a report on Wednesday.

Cal-Maine Foods Trading Up 0.2 %

CALM traded up $0.10 during trading on Friday, reaching $62.90. 1,232,797 shares of the company's stock were exchanged, compared to its average volume of 666,073. Cal-Maine Foods, Inc. has a one year low of $42.25 and a one year high of $64.76. The stock has a market capitalization of $3.08 billion, a PE ratio of 11.15 and a beta of -0.06. The firm has a fifty day moving average price of $58.03 and a two-hundred day moving average price of $53.17.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 2nd. The basic materials company reported $3.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.45 by $0.55. The firm had revenue of $703.08 million for the quarter, compared to the consensus estimate of $692.35 million. Cal-Maine Foods had a net margin of 11.61% and a return on equity of 16.79%. The company's revenue for the quarter was down 29.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.62 EPS. Sell-side analysts expect that Cal-Maine Foods, Inc. will post 4.63 earnings per share for the current year.

Cal-Maine Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Wednesday, May 1st will be given a $1.00 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 6.36%. This is an increase from Cal-Maine Foods's previous quarterly dividend of $0.12. Cal-Maine Foods's payout ratio is 8.16%.

Insider Transactions at Cal-Maine Foods

In other news, Director Letitia Callender Hughes sold 1,020 shares of the business's stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $56.73, for a total value of $57,864.60. Following the transaction, the director now owns 43,570 shares in the company, valued at approximately $2,471,726.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director James E. Poole sold 3,000 shares of the business's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $55.91, for a total transaction of $167,730.00. Following the transaction, the director now owns 11,670 shares in the company, valued at approximately $652,469.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Letitia Callender Hughes sold 1,020 shares of the business's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $56.73, for a total transaction of $57,864.60. Following the transaction, the director now owns 43,570 shares in the company, valued at approximately $2,471,726.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,228 shares of company stock worth $520,122. Company insiders own 13.51% of the company's stock.

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.