Allspring Global Investments Holdings LLC Acquires Shares of 79,570 Cal-Maine Foods, Inc. $CALM

Allspring Global Investments Holdings LLC acquired a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 79,570 shares of the basic materials company’s stock, valued at approximately $6,244,000. Allspring Global Investments Holdings LLC owned approximately 0.16% of Cal-Maine Foods at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cal-Maine Foods by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company’s stock valued at $2,218,000 after acquiring an additional 1,057 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Cal-Maine Foods by 100.8% in the first quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company’s stock valued at $726,000 after acquiring an additional 4,009 shares during the last quarter. United Services Automobile Association bought a new position in shares of Cal-Maine Foods in the first quarter valued at approximately $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Cal-Maine Foods by 10.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company’s stock valued at $7,765,000 after acquiring an additional 7,736 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Cal-Maine Foods in the second quarter valued at approximately $8,829,000. 84.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CALM shares. Stephens lifted their target price 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. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cal-Maine Foods in a research note on Friday, March 27th. Finally, BMO Capital Markets cut their target price on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, March 25th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Cal-Maine Foods presently has a consensus rating of “Hold” and an average price target of $93.00.

Cal-Maine Foods Price Performance

CALM stock opened at $78.97 on Tuesday. The company has a 50 day moving average price of $83.46 and a 200 day moving average price of $85.47. The stock has a market capitalization of $3.76 billion, a PE ratio of 5.50 and a beta of 0.32. Cal-Maine Foods, Inc. has a fifty-two week low of $71.92 and a fifty-two week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Wednesday, April 1st. The basic materials company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.89 by $0.17. The company had revenue of $666.95 million during the quarter, compared to analysts’ expectations of $655.82 million. Cal-Maine Foods had a net margin of 20.07% and a return on equity of 26.05%. The business’s revenue for the quarter was down 53.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.39 EPS. As a group, equities analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, April 29th. This represents a $1.44 annualized dividend and a dividend yield of 1.8%. Cal-Maine Foods’s payout ratio is presently 20.14%.

Cal-Maine Foods 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.