Graham Capital Management L.P. boosted its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM – Get Rating) by 185.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,998 shares of the basic materials company’s stock after purchasing an additional 14,279 shares during the quarter. Graham Capital Management L.P.’s holdings in Cal-Maine Foods were worth $1,214,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vigilant Capital Management LLC bought a new position in Cal-Maine Foods during the first quarter worth $28,000. US Bancorp DE lifted its holdings in shares of Cal-Maine Foods by 39.1% during the first quarter. US Bancorp DE now owns 1,095 shares of the basic materials company’s stock worth $61,000 after buying an additional 308 shares in the last quarter. FDx Advisors Inc. acquired a new stake in shares of Cal-Maine Foods during the first quarter worth $209,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Cal-Maine Foods during the first quarter worth $214,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Cal-Maine Foods during the first quarter worth $225,000. 78.64% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on CALM shares. TheStreet raised Cal-Maine Foods from a “c+” rating to an “a” rating in a report on Monday, August 22nd. StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday, September 7th.
Cal-Maine Foods Stock Up 1.9 %
Cal-Maine Foods (NASDAQ:CALM – Get Rating) last posted its quarterly earnings results on Tuesday, July 19th. The basic materials company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.75. The business had revenue of $593.00 million during the quarter, compared to the consensus estimate of $576.06 million. Cal-Maine Foods had a return on equity of 12.85% and a net margin of 7.40%. Cal-Maine Foods’s revenue for the quarter was up 69.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. On average, analysts anticipate that Cal-Maine Foods, Inc. will post 5.63 EPS for the current fiscal year.
Cal-Maine Foods Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 16th. Investors of record on Monday, August 1st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend was Friday, July 29th. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $0.03. Cal-Maine Foods’s payout ratio is 110.70%.
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, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, and 4-Grain brand names, as well as under private labels.
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