American Century Companies Inc. raised its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM – Get Rating) by 3,590.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 265,598 shares of the basic materials company’s stock after purchasing an additional 258,401 shares during the period. American Century Companies Inc. owned 0.54% of Cal-Maine Foods worth $14,462,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Cal-Maine Foods by 17.4% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,622 shares of the basic materials company’s stock worth $2,212,000 after purchasing an additional 6,035 shares during the last quarter. Dean Investment Associates LLC increased its position in shares of Cal-Maine Foods by 48.2% in the fourth quarter. Dean Investment Associates LLC now owns 86,753 shares of the basic materials company’s stock worth $4,724,000 after acquiring an additional 28,212 shares in the last quarter. CenterBook Partners LP acquired a new stake in shares of Cal-Maine Foods in the fourth quarter worth $369,000. Quadrant Capital Group LLC increased its position in shares of Cal-Maine Foods by 78.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,008 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 444 shares in the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of Cal-Maine Foods in the fourth quarter worth $1,147,000. Institutional investors and hedge funds own 88.78% of the company’s stock.
Insider Activity at Cal-Maine Foods
In related news, EVP Charles Jeff Hardin sold 1,201 shares of the firm’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $60.15, for a total transaction of $72,240.15. Following the completion of the sale, the executive vice president now directly owns 4,194 shares of the company’s stock, valued at approximately $252,269.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 13.49% of the company’s stock.
Cal-Maine Foods Trading Up 1.1 %
Cal-Maine Foods (NASDAQ:CALM – Get Rating) last released its quarterly earnings results on Tuesday, March 28th. The basic materials company reported $6.62 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $1.53. The business had revenue of $997.49 million during the quarter, compared to analyst estimates of $898.93 million. Cal-Maine Foods had a net margin of 24.82% and a return on equity of 58.83%. The business’s revenue was up 108.9% on a year-over-year basis. During the same period last year, the business earned $0.81 EPS. On average, analysts forecast that Cal-Maine Foods, Inc. will post 16.25 earnings per share for the current fiscal year.
Cal-Maine Foods Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 11th. Investors of record on Wednesday, April 26th were issued a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a yield of 18.15%. This is a positive change from Cal-Maine Foods’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, April 25th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 56.74%.
Analyst Upgrades and Downgrades
CALM has been the subject of several recent research reports. StockNews.com initiated coverage on shares of Cal-Maine Foods in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Stephens lowered shares of Cal-Maine Foods from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $67.00 to $60.00 in a research report on Tuesday, April 25th.
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, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, and 4-Grain brand names, as well as under private labels.
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