JPMorgan Chase & Co. Has $31.39 Million Holdings in 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 third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 333,545 shares of the basic materials company’s stock after purchasing an additional 20,348 shares during the period. JPMorgan Chase & Co. owned approximately 0.69% of Cal-Maine Foods worth $31,387,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CALM. State Street Corp raised its position in Cal-Maine Foods by 6.8% in the 2nd quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after purchasing an additional 108,578 shares during the last quarter. American Century Companies Inc. raised its position in shares of Cal-Maine Foods by 8.8% during the second quarter. American Century Companies Inc. now owns 1,563,734 shares of the basic materials company’s stock worth $155,795,000 after acquiring an additional 126,791 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cal-Maine Foods by 7.5% during the second quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock worth $109,132,000 after acquiring an additional 76,102 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Cal-Maine Foods by 60.1% during the second quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock valued at $93,058,000 after acquiring an additional 350,771 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Cal-Maine Foods by 6.6% in the second quarter. Bank of America Corp DE now owns 705,671 shares of the basic materials company’s stock valued at $70,306,000 after acquiring an additional 43,414 shares during the last quarter. 84.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Stephens set a $85.00 price objective on Cal-Maine Foods and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research report on Monday, January 5th. Weiss Ratings lowered shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Finally, BMO Capital Markets reduced their price objective 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. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $93.00.

Cal-Maine Foods Price Performance

NASDAQ CALM opened at $87.11 on Friday. Cal-Maine Foods, Inc. has a one year low of $71.92 and a one year high of $126.40. The firm has a market cap of $4.15 billion, a P/E ratio of 3.68 and a beta of 0.26. The stock’s 50-day moving average is $81.18 and its 200-day moving average is $90.76.

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

Cal-Maine Foods Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Wednesday, January 28th were paid a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. Cal-Maine Foods’s dividend payout ratio is presently 12.21%.

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.