Empower Advisory Group LLC Takes Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Empower Advisory Group LLC purchased a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,548 shares of the basic materials company’s stock, valued at approximately $216,000.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Cal-Maine Foods by 0.8% in the first quarter. BlackRock Inc. now owns 6,199,712 shares of the basic materials company’s stock valued at $342,347,000 after buying an additional 48,222 shares during the period. Vanguard Group Inc. grew its stake in shares of Cal-Maine Foods by 9.8% during the third quarter. Vanguard Group Inc. now owns 4,992,618 shares of the basic materials company’s stock worth $277,540,000 after purchasing an additional 446,909 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cal-Maine Foods by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,914,007 shares of the basic materials company’s stock valued at $116,542,000 after purchasing an additional 111,339 shares during the last quarter. Millennium Management LLC increased its stake in shares of Cal-Maine Foods by 2.9% in the 4th quarter. Millennium Management LLC now owns 1,604,025 shares of the basic materials company’s stock valued at $87,339,000 after acquiring an additional 45,771 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Cal-Maine Foods by 28.1% during the 1st quarter. First Trust Advisors LP now owns 1,565,834 shares of the basic materials company’s stock worth $95,344,000 after acquiring an additional 343,518 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Performance

Shares of Cal-Maine Foods stock opened at $46.08 on Monday. Cal-Maine Foods, Inc. has a 52-week low of $43.29 and a 52-week high of $65.32. The business’s 50 day simple moving average is $46.27 and its 200 day simple moving average is $49.29. The firm has a market cap of $2.26 billion, a PE ratio of 2.97, a P/E/G ratio of 0.95 and a beta of -0.07.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.89. The business had revenue of $688.70 million for the quarter, compared to analyst estimates of $612.94 million. Cal-Maine Foods had a net margin of 24.09% and a return on equity of 53.64%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 earnings per share. As a group, equities research analysts predict that Cal-Maine Foods, Inc. will post 2.96 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 22nd. Stockholders of record on Monday, August 7th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend was Friday, August 4th. Cal-Maine Foods’s payout ratio is 19.45%.

Analysts Set New Price Targets

A number of analysts recently commented on CALM shares. Stephens lowered their price objective on shares of Cal-Maine Foods from $50.00 to $47.00 in a research report on Wednesday, July 26th. The Goldman Sachs Group dropped their target price on shares of Cal-Maine Foods from $43.00 to $40.00 in a report on Thursday, July 6th. Finally, StockNews.com initiated coverage on shares of Cal-Maine Foods in a research report on Thursday, August 17th. They set a “hold” rating for the company.

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.