Sterling Capital Management LLC bought a new position in Cal-Maine Foods Inc (NASDAQ:CALM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,128 shares of the basic materials company’s stock, valued at approximately $1,020,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. NEXT Financial Group Inc bought a new position in shares of Cal-Maine Foods in the third quarter worth approximately $133,000. First Quadrant L P CA bought a new position in shares of Cal-Maine Foods in the third quarter worth approximately $161,000. NumerixS Investment Technologies Inc bought a new position in shares of Cal-Maine Foods in the second quarter worth approximately $190,000. United Services Automobile Association bought a new position in shares of Cal-Maine Foods in the second quarter worth approximately $208,000. Finally, Amalgamated Bank bought a new position in shares of Cal-Maine Foods in the second quarter worth approximately $219,000. Hedge funds and other institutional investors own 59.30% of the company’s stock.
Shares of NASDAQ CALM opened at $49.58 on Friday. The company has a market capitalization of $2.44 billion, a PE ratio of 17.46 and a beta of 0.43. Cal-Maine Foods Inc has a 52-week low of $39.50 and a 52-week high of $52.30.
Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Monday, October 1st. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.23). Cal-Maine Foods had a net margin of 9.76% and a return on equity of 18.99%. The company had revenue of $340.60 million for the quarter, compared to analysts’ expectations of $346.76 million. During the same period in the previous year, the firm earned ($0.33) earnings per share. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. On average, research analysts forecast that Cal-Maine Foods Inc will post 3.35 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.085 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.34 annualized dividend and a dividend yield of 0.69%. Cal-Maine Foods’s payout ratio is 11.97%.
In related news, CFO Max P. Bowman acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, October 11th. The stock was purchased at an average cost of $45.51 per share, with a total value of $91,020.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,000 shares of the company’s stock, valued at $91,020. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 33.03% of the stock is owned by insiders.
Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. Stephens downgraded shares of Cal-Maine Foods from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 1st. Zacks Investment Research upgraded shares of Cal-Maine Foods from a “hold” rating to a “strong-buy” rating and set a $54.00 target price on the stock in a research note on Thursday, August 9th. Finally, ValuEngine upgraded shares of Cal-Maine Foods from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $54.50.
TRADEMARK VIOLATION WARNING: This article was originally published by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://www.americanbankingnews.com/2018/11/10/sterling-capital-management-llc-takes-position-in-cal-maine-foods-inc-calm.html.
Cal-Maine Foods Company 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.
Featured Story: What is Considered a Good Return on Equity (ROE)?
Want to see what other hedge funds are holding CALM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cal-Maine Foods Inc (NASDAQ:CALM).
Receive News & Ratings for Cal-Maine Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cal-Maine Foods and related companies with MarketBeat.com's FREE daily email newsletter.