AXQ Capital LP Invests $1.24 Million in Cal-Maine Foods, Inc. $CALM

AXQ Capital LP bought a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,540 shares of the basic materials company’s stock, valued at approximately $1,237,000.

Several other hedge funds also recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its position in shares of Cal-Maine Foods by 12.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock valued at $101,000 after buying an additional 116 shares in the last quarter. Xponance Inc. increased its stake in Cal-Maine Foods by 3.4% in the third quarter. Xponance Inc. now owns 3,694 shares of the basic materials company’s stock valued at $348,000 after acquiring an additional 123 shares during the last quarter. IFP Advisors Inc increased its stake in Cal-Maine Foods by 58.2% in the third quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 139 shares during the last quarter. Axxcess Wealth Management LLC increased its stake in Cal-Maine Foods by 6.3% in the third quarter. Axxcess Wealth Management LLC now owns 2,454 shares of the basic materials company’s stock valued at $231,000 after acquiring an additional 145 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Cal-Maine Foods by 4.8% in the fourth quarter. GAMMA Investing LLC now owns 3,164 shares of the basic materials company’s stock valued at $252,000 after acquiring an additional 145 shares during the last quarter. 84.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stephens lifted their price objective 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Cal-Maine Foods in a research note on Friday, March 27th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Royal Bank Of Canada set a $100.00 price objective on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Finally, BMO Capital Markets decreased their price objective on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Cal-Maine Foods currently has an average rating of “Hold” and a consensus price target of $94.17.

Cal-Maine Foods Stock Performance

Shares of NASDAQ:CALM opened at $75.14 on Tuesday. The firm has a market cap of $3.56 billion, a PE ratio of 5.24 and a beta of 0.26. The firm’s fifty day moving average is $77.15 and its 200-day moving average is $81.34. Cal-Maine Foods, Inc. has a 52 week low of $71.92 and a 52 week 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 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The company had revenue of $666.95 million for the quarter, compared to analyst estimates of $655.82 million. Cal-Maine Foods had a net margin of 20.07% and a return on equity of 26.05%. Cal-Maine Foods’s revenue was down 53.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.39 earnings per share.

Cal-Maine Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, April 29th. Cal-Maine Foods’s payout ratio is 9.97%.

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.