JPMorgan Chase & Co. Has $31.39 Million Stock Holdings in Cal-Maine Foods, Inc. $CALM

JPMorgan Chase & Co. raised its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 6.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 333,545 shares of the basic materials company’s stock after acquiring an additional 20,348 shares during the period. JPMorgan Chase & Co.’s holdings in Cal-Maine Foods were worth $31,387,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new stake in shares of Cal-Maine Foods in the third quarter valued at approximately $32,000. Carolina Wealth Advisors LLC acquired a new position in Cal-Maine Foods during the third quarter worth $47,000. Financial Consulate Inc. acquired a new stake in Cal-Maine Foods in the 3rd quarter valued at $56,000. Byrne Asset Management LLC acquired a new stake in Cal-Maine Foods in the 3rd quarter valued at $66,000. Finally, Geneos Wealth Management Inc. lifted its position in Cal-Maine Foods by 80.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock worth $67,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Trading Up 3.9%

Shares of NASDAQ CALM opened at $87.11 on Friday. The company has a market capitalization of $4.15 billion, a P/E ratio of 3.68 and a beta of 0.26. Cal-Maine Foods, Inc. has a 12 month low of $71.92 and a 12 month high of $126.40. The stock has a 50 day moving average of $81.18 and a 200-day moving average of $90.76.

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 analysts’ consensus estimates 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 business had revenue of $769.50 million during the quarter, compared to the consensus estimate of $828.46 million. During the same quarter last year, the company posted $4.47 EPS. The firm’s revenue was down 19.4% on a year-over-year basis. Analysts predict 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. Investors of record on Wednesday, January 28th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $2.88 annualized dividend and a dividend yield of 3.3%. Cal-Maine Foods’s payout ratio is presently 12.21%.

Wall Street Analysts Forecast Growth

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

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.