Federated Hermes Inc. Grows Position in Cal-Maine Foods, Inc. $CALM

Federated Hermes Inc. boosted its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 223.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,110 shares of the basic materials company’s stock after buying an additional 21,495 shares during the period. Federated Hermes Inc. owned 0.06% of Cal-Maine Foods worth $2,927,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC grew its holdings in Cal-Maine Foods by 13.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 7,665 shares of the basic materials company’s stock worth $721,000 after purchasing an additional 888 shares during the last quarter. James Investment Research Inc. purchased a new stake in shares of Cal-Maine Foods in the 3rd quarter valued at $265,000. Y Intercept Hong Kong Ltd acquired a new stake in Cal-Maine Foods during the 3rd quarter worth about $4,469,000. Glenorchy Capital Ltd purchased a new stake in shares of Cal-Maine Foods in the third quarter worth about $288,000. Finally, Strs Ohio boosted its position in Cal-Maine Foods by 3.8% in the 3rd quarter. Strs Ohio now owns 13,600 shares of the basic materials company’s stock worth $1,280,000 after purchasing an additional 500 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $85.21 on Wednesday. Cal-Maine Foods, Inc. has a fifty-two week low of $71.92 and a fifty-two week high of $126.40. The stock’s fifty day moving average is $81.72 and its two-hundred day moving average is $93.64. The firm has a market capitalization of $4.06 billion, a P/E ratio of 3.60 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Wednesday, January 7th. The basic materials company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The business had revenue of $769.50 million during the quarter, compared to analyst estimates of $828.46 million. Cal-Maine Foods had a net margin of 27.37% and a return on equity of 44.55%. Cal-Maine Foods’s quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the company earned $4.47 earnings per share. On average, equities analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Wednesday, January 28th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, January 28th. Cal-Maine Foods’s dividend payout ratio (DPR) is 12.17%.

Analysts Set New Price Targets

CALM has been the topic of a number of recent analyst reports. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research report on Monday, January 5th. Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. BMO Capital Markets dropped their price target on shares of Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, January 8th. Finally, Stephens set a $85.00 price target on shares of Cal-Maine Foods and gave the stock an “equal weight” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $93.00.

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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.