JPMorgan Chase & Co. Acquires 159,787 Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM)

JPMorgan Chase & Co. increased its position in Cal-Maine Foods, Inc. (NASDAQ:CALM - Free Report) by 88.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,155 shares of the basic materials company's stock after acquiring an additional 159,787 shares during the period. JPMorgan Chase & Co. owned approximately 0.69% of Cal-Maine Foods worth $25,457,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CALM. Two Sigma Advisers LP grew its stake in Cal-Maine Foods by 652.6% during the third quarter. Two Sigma Advisers LP now owns 160,300 shares of the basic materials company's stock worth $11,997,000 after buying an additional 139,000 shares during the period. Dimensional Fund Advisors LP increased its position in Cal-Maine Foods by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,616,011 shares of the basic materials company's stock worth $159,863,000 after buying an additional 114,995 shares during the period. Renaissance Technologies LLC increased its stake in shares of Cal-Maine Foods by 5.5% in the second quarter. Renaissance Technologies LLC now owns 2,115,624 shares of the basic materials company's stock valued at $129,286,000 after purchasing an additional 110,900 shares during the period. American Century Companies Inc. boosted its position in Cal-Maine Foods by 8.9% during the 2nd quarter. American Century Companies Inc. now owns 1,013,713 shares of the basic materials company's stock worth $61,948,000 after acquiring an additional 82,772 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Cal-Maine Foods in the third quarter worth about $58,810,000. Hedge funds and other institutional investors own 84.67% of the company's stock.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM traded up $1.05 during trading on Wednesday, reaching $104.73. The stock had a trading volume of 1,823,080 shares, compared to its average volume of 840,516. The business's 50-day moving average price is $98.25 and its 200 day moving average price is $81.91. Cal-Maine Foods, Inc. has a 52 week low of $53.38 and a 52 week high of $114.06. The stock has a market capitalization of $5.14 billion, a PE ratio of 12.00 and a beta of -0.11.

Cal-Maine Foods (NASDAQ:CALM - Get Free Report) last posted its quarterly earnings results on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.42. The business had revenue of $954.70 million for the quarter, compared to analysts' expectations of $751.50 million. Cal-Maine Foods had a return on equity of 24.25% and a net margin of 16.09%. The firm's quarterly revenue was up 82.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 earnings per share. Analysts forecast that Cal-Maine Foods, Inc. will post 8.54 EPS for the current year.

Cal-Maine Foods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Wednesday, January 29th will be issued a dividend of $1.489 per share. This represents a $5.96 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend is Wednesday, January 29th. This is a positive change from Cal-Maine Foods's previous quarterly dividend of $1.02. Cal-Maine Foods's dividend payout ratio is presently 46.62%.

Analyst Ratings Changes

A number of research firms recently commented on CALM. StockNews.com downgraded shares of Cal-Maine Foods from a "buy" rating to a "hold" rating in a report on Tuesday. Stephens started coverage on shares of Cal-Maine Foods in a research note on Thursday, October 3rd. They issued an "equal weight" rating and a $82.00 target price for the company.

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.