Royal Bank of Canada Has $14.21 Million Position in Cal-Maine Foods, Inc. $CALM

Royal Bank of Canada boosted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 16.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 156,322 shares of the basic materials company’s stock after acquiring an additional 21,630 shares during the period. Royal Bank of Canada owned 0.32% of Cal-Maine Foods worth $14,210,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Man Group plc lifted its position in Cal-Maine Foods by 258.7% in the 4th quarter. Man Group plc now owns 582,711 shares of the basic materials company’s stock valued at $59,973,000 after acquiring an additional 420,247 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Cal-Maine Foods by 515.1% in the 4th quarter. Millennium Management LLC now owns 477,477 shares of the basic materials company’s stock valued at $49,142,000 after purchasing an additional 399,848 shares during the period. Nuveen LLC acquired a new position in Cal-Maine Foods in the 1st quarter valued at about $35,322,000. Jupiter Asset Management Ltd. grew its stake in Cal-Maine Foods by 336.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 487,214 shares of the basic materials company’s stock valued at $44,288,000 after buying an additional 375,604 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Cal-Maine Foods by 13.4% during the 1st quarter. American Century Companies Inc. now owns 1,436,943 shares of the basic materials company’s stock worth $130,618,000 after purchasing an additional 170,322 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Trading Up 0.8%

Shares of CALM opened at $109.50 on Thursday. The firm’s 50-day moving average price is $108.51 and its 200-day moving average price is $98.85. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 4.39 and a beta of 0.27. Cal-Maine Foods, Inc. has a 1-year low of $68.55 and a 1-year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data 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. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $877.03 million. Cal-Maine Foods had a net margin of 28.63% and a return on equity of 54.81%. Cal-Maine Foods’s quarterly revenue was up 72.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.32 earnings per share. On average, research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Monday, August 4th were issued a dividend of $3.46 per share. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $1.49. This represents a $13.84 dividend on an annualized basis and a yield of 12.6%. The ex-dividend date of this dividend was Monday, August 4th. Cal-Maine Foods’s dividend payout ratio is currently 37.76%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CALM. The Goldman Sachs Group began coverage on shares of Cal-Maine Foods in a research report on Thursday, August 14th. They issued a “neutral” rating and a $110.00 target price on the stock. BMO Capital Markets boosted their target price on shares of Cal-Maine Foods from $100.00 to $105.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th. Wall Street Zen lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Saturday, August 23rd. Finally, Stephens increased their target price on shares of Cal-Maine Foods from $108.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $110.00.

Cal-Maine Foods Company 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.