South Dakota Investment Council cut its holdings in Cal-Maine Foods Inc (NASDAQ:CALM) by 57.7% during the first quarter, Holdings Channel reports. The fund owned 7,000 shares of the basic materials company’s stock after selling 9,564 shares during the period. South Dakota Investment Council’s holdings in Cal-Maine Foods were worth $312,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Piedmont Investment Advisors Inc. lifted its stake in Cal-Maine Foods by 3.4% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 7,213 shares of the basic materials company’s stock worth $305,000 after purchasing an additional 234 shares in the last quarter. Mondrian Investment Partners LTD lifted its stake in Cal-Maine Foods by 0.4% during the fourth quarter. Mondrian Investment Partners LTD now owns 76,544 shares of the basic materials company’s stock worth $3,238,000 after purchasing an additional 275 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Cal-Maine Foods by 3.0% during the fourth quarter. State of Alaska Department of Revenue now owns 10,118 shares of the basic materials company’s stock worth $427,000 after purchasing an additional 295 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Cal-Maine Foods by 0.7% during the fourth quarter. Hsbc Holdings PLC now owns 50,384 shares of the basic materials company’s stock worth $2,131,000 after purchasing an additional 371 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Cal-Maine Foods by 67.3% during the fourth quarter. Meeder Asset Management Inc. now owns 994 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 64.91% of the company’s stock.
A number of research firms have commented on CALM. BidaskClub upgraded Cal-Maine Foods from a “sell” rating to a “hold” rating in a research note on Saturday, May 4th. ValuEngine raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Stephens set a $40.00 price objective on Cal-Maine Foods and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Cal-Maine Foods currently has a consensus rating of “Hold” and an average price target of $47.00.
Cal-Maine Foods stock opened at $42.63 on Thursday. Cal-Maine Foods Inc has a twelve month low of $40.37 and a twelve month high of $52.30. The firm has a market cap of $2.08 billion, a PE ratio of 15.01 and a beta of 0.28.
Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Monday, April 1st. The basic materials company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.32. Cal-Maine Foods had a return on equity of 15.09% and a net margin of 9.57%. The business had revenue of $383.99 million for the quarter, compared to analyst estimates of $385.49 million. During the same quarter in the prior year, the company earned $1.99 earnings per share. The company’s revenue was down 11.9% on a year-over-year basis. As a group, research analysts forecast that Cal-Maine Foods Inc will post 1.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.272 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 2.55%. This is a positive change from Cal-Maine Foods’s previous quarterly dividend of $0.15. Cal-Maine Foods’s dividend payout ratio is currently 38.38%.
In other news, Director James E. Poole sold 2,500 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $42.76, for a total transaction of $106,900.00. Following the sale, the director now owns 8,222 shares of the company’s stock, valued at $351,572.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert L. Holladay, Jr. sold 1,200 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $41.61, for a total value of $49,932.00. Following the sale, the vice president now directly owns 10,690 shares in the company, valued at approximately $444,810.90. The disclosure for this sale can be found here. 33.03% of the stock is currently owned by corporate insiders.
Cal-Maine Foods Profile
Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.
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