Assetmark Inc. raised its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM – Free Report) by 174.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,117 shares of the basic materials company’s stock after purchasing an additional 35,688 shares during the period. Assetmark Inc. owned 0.11% of Cal-Maine Foods worth $3,417,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Strs Ohio bought a new position in Cal-Maine Foods during the 4th quarter valued at approximately $38,000. Fifth Third Bancorp raised its position in Cal-Maine Foods by 52.5% during the 1st quarter. Fifth Third Bancorp now owns 645 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 222 shares during the last quarter. Parallel Advisors LLC raised its position in Cal-Maine Foods by 41.0% during the 4th quarter. Parallel Advisors LLC now owns 839 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 244 shares during the last quarter. Quadrant Capital Group LLC raised its position in Cal-Maine Foods by 78.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,008 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 444 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Cal-Maine Foods during the 4th quarter valued at approximately $59,000. Institutional investors own 84.74% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on CALM shares. The Goldman Sachs Group lowered their price target on Cal-Maine Foods from $43.00 to $40.00 in a research report on Thursday, July 6th. Stephens reduced their target price on Cal-Maine Foods from $50.00 to $47.00 in a report on Wednesday, July 26th. Finally, StockNews.com downgraded Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st.
Cal-Maine Foods Stock Up 0.3 %
Cal-Maine Foods stock opened at $45.42 on Tuesday. The company has a market capitalization of $2.22 billion, a P/E ratio of 2.92, a PEG ratio of 0.92 and a beta of -0.05. The stock’s 50 day moving average is $45.91 and its 200 day moving average is $51.13. Cal-Maine Foods, Inc. has a twelve month low of $43.29 and a twelve month high of $65.32.
Cal-Maine Foods (NASDAQ:CALM – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.89. The company had revenue of $688.70 million for the quarter, compared to the consensus estimate of $612.94 million. Cal-Maine Foods had a return on equity of 53.64% and a net margin of 24.09%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.25 EPS. As a group, equities analysts expect that Cal-Maine Foods, Inc. will post 2.96 EPS for the current year.
Cal-Maine Foods Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Monday, August 7th will be paid a $0.76 dividend. The ex-dividend date is Friday, August 4th. This represents a $3.04 annualized dividend and a dividend yield of 6.69%. Cal-Maine Foods’s payout ratio is currently 19.45%.
Cal-Maine Foods Profile
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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