Cal-Maine Foods said on March 28, 2023 that its board of directors declared a regular quarterly dividend of $2.20 per share ($8.80 annualized). Previously, the company paid $1.35 per share.

Shares must be purchased before the ex-div date of April 25, 2023 to qualify for the dividend. Shareholders of record as of April 26, 2023 will receive the payment on May 11, 2023.

At the current share price of $57.96 / share, the stock's dividend yield is 15.18%. Looking back five years and taking a sample every week, the average dividend yield has been 2.41%, the lowest has been 0.34%, and the highest has been 9.96%. The standard deviation of yields is 2.90 (n=107).

The current dividend yield is 4.40 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.57. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

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Analyst Price Forecast Suggests 6.76% Upside

As of March 28, 2023, the average one-year price target for Cal-Maine Foods is $61.88. The forecasts range from a low of $55.55 to a high of $70.35. The average price target represents an increase of 6.76% from its latest reported closing price of $57.96.

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The projected annual revenue for Cal-Maine Foods is $2,492MM, a decrease of 18.31%. The projected annual non-GAAP EPS is $7.94.

What is the Fund Sentiment?

There are 702 funds or institutions reporting positions in Cal-Maine Foods. This is an increase of 74 owner(s) or 11.78% in the last quarter. Average portfolio weight of all funds dedicated to CALM is 0.18%, a decrease of 13.17%. Total shares owned by institutions increased in the last three months by 0.37% to 46,338K shares. The put/call ratio of CALM is 2.06, indicating a bearish outlook.

What are Large Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 2,813K shares representing 5.75% ownership of the company. In it's prior filing, the firm reported owning 2,771K shares, representing an increase of 1.50%. The firm decreased its portfolio allocation in CALM by 9.54% over the last quarter.

Millennium Management holds 1,604K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 1,558K shares, representing an increase of 2.85%. The firm decreased its portfolio allocation in CALM by 5.67% over the last quarter.

Diamond Hill Capital Management holds 1,598K shares representing 3.27% ownership of the company. In it's prior filing, the firm reported owning 1,646K shares, representing a decrease of 2.99%. The firm decreased its portfolio allocation in CALM by 99.91% over the last quarter.

Renaissance Technologies holds 1,410K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 1,451K shares, representing a decrease of 2.89%. The firm decreased its portfolio allocation in CALM by 7.94% over the last quarter.

Acadian Asset Management holds 1,275K shares representing 2.61% ownership of the company. In it's prior filing, the firm reported owning 863K shares, representing an increase of 32.36%. The firm increased its portfolio allocation in CALM by 30.40% over the last quarter.

Cal-Maine Foods Background Information
(This description is provided by the company.)

Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs, including conventional, cage-free, organic and nutritionally enhanced eggs. The Company, which is headquartered in Jackson, Mississippi, is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States.