Prudential Financial Inc. trimmed its stake in shares of Cal-Maine Foods Inc (NASDAQ:CALM) by 30.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 152,438 shares of the basic materials company’s stock after selling 67,687 shares during the period. Prudential Financial Inc. owned approximately 0.31% of Cal-Maine Foods worth $7,362,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. NEXT Financial Group Inc acquired a new position in Cal-Maine Foods in the third quarter valued at approximately $133,000. First Quadrant L P CA acquired a new position in Cal-Maine Foods in the third quarter valued at approximately $161,000. NumerixS Investment Technologies Inc acquired a new position in Cal-Maine Foods in the second quarter valued at approximately $190,000. United Services Automobile Association acquired a new position in Cal-Maine Foods in the second quarter valued at approximately $208,000. Finally, Wedge Capital Management L L P NC acquired a new position in Cal-Maine Foods in the second quarter valued at approximately $246,000. Institutional investors own 63.09% of the company’s stock.
In other news, CFO Max P. Bowman bought 2,000 shares of the stock in a transaction on Thursday, October 11th. The stock was purchased at an average price of $45.51 per share, with a total value of $91,020.00. Following the completion of the purchase, the chief financial officer now owns 2,000 shares of the company’s stock, valued at $91,020. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 33.03% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:CALM opened at $43.66 on Friday. Cal-Maine Foods Inc has a 52 week low of $39.50 and a 52 week high of $52.30. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 12.51 and a beta of 0.39.
Cal-Maine Foods (NASDAQ:CALM) last issued its earnings results on Monday, October 1st. The basic materials company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $340.60 million during the quarter, compared to the consensus estimate of $346.76 million. During the same period in the previous year, the company posted ($0.33) EPS. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were paid a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 0.78%. The ex-dividend date was Tuesday, October 30th. Cal-Maine Foods’s payout ratio is presently 11.97%.
Several equities analysts recently weighed in on the stock. ValuEngine upgraded shares of Cal-Maine Foods from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 6th. BidaskClub lowered shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Zacks Investment Research lowered shares of Cal-Maine Foods from a “strong-buy” rating to a “hold” rating in a report on Friday, August 10th. Finally, Vertical Group lowered shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $54.50.
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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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