JPMorgan Chase & Co. Buys 20,348 Shares of Cal-Maine Foods, Inc. $CALM

JPMorgan Chase & Co. lifted its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 333,545 shares of the basic materials company’s stock after buying an additional 20,348 shares during the period. JPMorgan Chase & Co. owned about 0.69% of Cal-Maine Foods worth $31,387,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. J.W. Cole Advisors Inc. lifted its stake in Cal-Maine Foods by 3.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 3,280 shares of the basic materials company’s stock valued at $327,000 after acquiring an additional 102 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Cal-Maine Foods by 12.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 116 shares in the last quarter. Xponance Inc. raised its holdings in shares of Cal-Maine Foods by 3.4% in the third quarter. Xponance Inc. now owns 3,694 shares of the basic materials company’s stock valued at $348,000 after purchasing an additional 123 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Cal-Maine Foods by 58.2% in the third quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Cal-Maine Foods by 4.9% during the third quarter. GAMMA Investing LLC now owns 3,019 shares of the basic materials company’s stock valued at $284,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

NASDAQ CALM opened at $78.35 on Monday. The business’s fifty day moving average is $83.23 and its 200-day moving average is $87.80. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 3.31 and a beta of 0.26. Cal-Maine Foods, Inc. has a one year low of $71.92 and a one year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Cal-Maine Foods had a net margin of 27.37% and a return on equity of 44.55%. The company had revenue of $769.50 million for the quarter, compared to the consensus estimate of $828.46 million. During the same quarter in the previous year, the company posted $4.47 EPS. Cal-Maine Foods’s quarterly revenue was down 19.4% compared to the same quarter last year. Research analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, January 28th. Cal-Maine Foods’s dividend payout ratio is currently 12.21%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CALM. BMO Capital Markets cut 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 report on Thursday, January 8th. Stephens increased their price objective on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 18th. Weiss Ratings cut shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Finally, Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $94.00.

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. 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.