8 Best Dividend Paying Debt Free Stocks to Invest in

4. Cal-Maine Foods, Inc. (NASDAQ:CALM)

Number of Hedge Fund Holders: 24

Market Cap as of December 7: $4.87 billion 

Enterprise Value as of December 7: $4.11 billion

Cal-Maine Foods, Inc. (NASDAQ:CALM) is a Mississippi-based producer and distributor of fresh shell eggs in the US. The company’s operations were impacted by disruptions caused by a decline in the national egg supply, which resulted from recent outbreaks of highly pathogenic avian influenza (HPAI). As of September 1, 2024, the total US hen population was about 4.5% lower than the five-year average, totaling 307.6 million layers. Despite this, the stock is generating solid returns, surging by over 75% since the start of 2024.

Given the current challenges, Cal-Maine Foods, Inc. (NASDAQ:CALM) intends to boost its production and purchase more eggs from external suppliers. Higher volumes and sales were driven by the added production capacity from recent acquisitions, along with steady organic growth. Operations ran smoothly as the company expanded its market reach and met the needs of its valued customers. In fiscal Q1 2025, the company reported revenue of $785.8 million, up significantly by over 71% from the same period last year. The revenue also beat analysts’ estimates by $81.22 million.

During the quarter, Cal-Maine Foods, Inc. (NASDAQ:CALM) returned approximately 450 million to shareholders through dividends. The company offers a quarterly dividend of $1.02 per share and has a dividend yield of 2.93%, as of December 7. It has been paying variable dividends since the third quarter of 2008. While its dividend policy was inconsistent in the years following the pandemic, it managed to recover and resume its payouts.

As per Insider Monkey’s database of Q3 2024, 24 hedge funds owned stakes in Cal-Maine Foods, Inc. (NASDAQ:CALM), compared with 25 in the previous quarter. These stakes are worth over $377.3 million in total. Jim Simons’ Renaissance Technologies owned the largest stake in the company in Q3.