Jefferson Bridge Capital LLC Acquires New Holdings in Cal-Maine Foods, Inc. $CALM

Jefferson Bridge Capital LLC acquired a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the fourth quarter, HoldingsChannel reports. The firm acquired 13,000 shares of the basic materials company’s stock, valued at approximately $1,034,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Steadtrust LLC raised its position in Cal-Maine Foods by 14.8% in the fourth quarter. Steadtrust LLC now owns 27,970 shares of the basic materials company’s stock worth $2,226,000 after acquiring an additional 3,600 shares in the last quarter. Signaturefd LLC raised its position in Cal-Maine Foods by 46.5% in the fourth quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 155 shares in the last quarter. Sheets Smith Wealth Management bought a new stake in Cal-Maine Foods in the fourth quarter worth about $325,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Cal-Maine Foods by 16.1% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,723 shares of the basic materials company’s stock worth $296,000 after acquiring an additional 516 shares in the last quarter. Finally, Foster & Motley Inc. raised its position in Cal-Maine Foods by 28.3% in the fourth quarter. Foster & Motley Inc. now owns 9,580 shares of the basic materials company’s stock worth $762,000 after acquiring an additional 2,112 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on CALM. Stephens boosted their price target on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cal-Maine Foods in a research report on Friday, March 27th. Finally, BMO Capital Markets dropped their price target on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $93.00.

Cal-Maine Foods Trading Down 2.2%

Shares of CALM opened at $77.24 on Wednesday. The business’s 50-day moving average price is $83.34 and its 200 day moving average price is $85.31. The stock has a market capitalization of $3.68 billion, a P/E ratio of 5.38 and a beta of 0.32. Cal-Maine Foods, Inc. has a 1-year low of $71.92 and a 1-year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Wednesday, April 1st. The basic materials company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The firm had revenue of $666.95 million for the quarter, compared to analysts’ expectations of $655.82 million. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.Cal-Maine Foods’s revenue was down 53.0% on a year-over-year basis. During the same quarter last year, the business posted $10.39 EPS. On average, research analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Wednesday, April 29th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $1.44 dividend on an annualized basis and a yield of 1.9%. Cal-Maine Foods’s dividend payout ratio (DPR) is currently 20.14%.

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.