Friedenthal Financial Makes New Investment in Cal-Maine Foods, Inc. (NASDAQ:CALM)

Friedenthal Financial acquired a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 7,430 shares of the basic materials company’s stock, valued at approximately $765,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Harbor Capital Advisors Inc. purchased a new position in Cal-Maine Foods during the third quarter worth about $29,000. Hexagon Capital Partners LLC increased its holdings in Cal-Maine Foods by 57.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 427 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 155 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in Cal-Maine Foods in the third quarter valued at approximately $33,000. Quarry LP lifted its stake in Cal-Maine Foods by 1,975.0% during the second quarter. Quarry LP now owns 581 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 553 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Cal-Maine Foods during the second quarter worth $47,000. 84.67% of the stock is owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Performance

Shares of CALM traded up $5.07 during midday trading on Monday, hitting $107.00. The company had a trading volume of 1,023,877 shares, compared to its average volume of 837,721. Cal-Maine Foods, Inc. has a 1 year low of $53.38 and a 1 year high of $114.06. The firm has a market capitalization of $5.25 billion, a P/E ratio of 12.26 and a beta of -0.11. The company’s 50-day simple moving average is $99.20 and its 200-day simple moving average is $82.82.

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

Cal-Maine Foods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Shareholders of record on Wednesday, January 29th will be issued a dividend of $1.489 per share. This represents a $5.96 dividend on an annualized basis and a yield of 5.57%. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, January 29th. Cal-Maine Foods’s payout ratio is 46.30%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CALM shares. StockNews.com cut Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Stephens began coverage on shares of Cal-Maine Foods in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $82.00 price objective for the company.

About Cal-Maine Foods

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.