Louisiana State Employees Retirement System Boosts Stock Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Posted by on Oct 8th, 2023

Louisiana State Employees Retirement System lifted its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM – Free Report) by 12.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,900 shares of the basic materials company’s stock after purchasing an additional 2,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Cal-Maine Foods were worth $896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Captrust Financial Advisors grew its holdings in shares of Cal-Maine Foods by 7.0% in the second quarter. Captrust Financial Advisors now owns 2,804 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 183 shares in the last quarter. Fifth Third Bancorp lifted its position in Cal-Maine Foods by 52.5% in the first quarter. Fifth Third Bancorp now owns 645 shares of the basic materials company’s stock worth $39,000 after buying an additional 222 shares during the last quarter. Beacon Investment Advisors LLC lifted its position in Cal-Maine Foods by 1.3% in the first quarter. Beacon Investment Advisors LLC now owns 17,572 shares of the basic materials company’s stock worth $1,070,000 after buying an additional 228 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Cal-Maine Foods by 1.2% in the first quarter. Allianz Asset Management GmbH now owns 20,969 shares of the basic materials company’s stock worth $1,158,000 after buying an additional 241 shares during the last quarter. Finally, Contravisory Investment Management Inc. lifted its position in Cal-Maine Foods by 5.9% in the first quarter. Contravisory Investment Management Inc. now owns 4,397 shares of the basic materials company’s stock worth $268,000 after buying an additional 244 shares during the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Cal-Maine Foods Trading Up 4.4 %

NASDAQ:CALM opened at $46.00 on Friday. Cal-Maine Foods, Inc. has a twelve month low of $42.25 and a twelve month high of $65.32. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 3.54, a price-to-earnings-growth ratio of 1.12 and a beta of -0.08. The stock has a fifty day simple moving average of $47.14 and a 200-day simple moving average of $48.47.

Cal-Maine Foods (NASDAQ:CALM – Get Free Report) last released its earnings results on Tuesday, October 3rd. The basic materials company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.31). The business had revenue of $459.34 million for the quarter, compared to the consensus estimate of $479.52 million. Cal-Maine Foods had a return on equity of 41.72% and a net margin of 21.50%. The firm’s revenue for the quarter was down 30.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 earnings per share. As a group, equities research analysts predict that Cal-Maine Foods, Inc. will post 2.37 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Wednesday, November 1st will be issued a $0.006 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $0.02 annualized dividend and a dividend yield of 0.05%. Cal-Maine Foods’s payout ratio is currently 23.27%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Stephens restated an “equal weight” rating and issued a $47.00 price target on shares of Cal-Maine Foods in a research report on Wednesday. The Goldman Sachs Group lowered their price target on Cal-Maine Foods from $43.00 to $40.00 in a research report on Thursday, July 6th. Finally, StockNews.com began coverage on Cal-Maine Foods in a research report on Thursday. They set a “hold” rating for the company.

Read Our Latest Report on CALM

About Cal-Maine Foods

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Cal-Maine Foods (NASDAQ:CALM)

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