Principal Financial Group Inc. reduced its position in Cal-Maine Foods, Inc. (NASDAQ:CALM – Free Report) by 11.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 216,643 shares of the basic materials company’s stock after selling 27,485 shares during the period. Principal Financial Group Inc. owned about 0.44% of Cal-Maine Foods worth $9,749,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. Aviva PLC lifted its position in Cal-Maine Foods by 51.3% during the first quarter. Aviva PLC now owns 25,726 shares of the basic materials company’s stock worth $1,566,000 after acquiring an additional 8,725 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Cal-Maine Foods during the second quarter worth approximately $2,488,000. Raymond James & Associates lifted its position in Cal-Maine Foods by 65.6% during the second quarter. Raymond James & Associates now owns 113,285 shares of the basic materials company’s stock worth $5,098,000 after acquiring an additional 44,891 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in Cal-Maine Foods by 33.4% during the first quarter. Texas Permanent School Fund Corp now owns 34,035 shares of the basic materials company’s stock worth $2,072,000 after acquiring an additional 8,517 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Cal-Maine Foods by 7.6% during the first quarter. Van ECK Associates Corp now owns 7,012 shares of the basic materials company’s stock worth $427,000 after acquiring an additional 494 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on CALM shares. StockNews.com started coverage on shares of Cal-Maine Foods in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Stephens reiterated an “equal weight” rating and issued a $47.00 price target on shares of Cal-Maine Foods in a research report on Wednesday, October 4th.
Cal-Maine Foods Trading Up 0.6 %
NASDAQ CALM opened at $48.61 on Tuesday. The company has a 50 day moving average of $47.50 and a 200-day moving average of $46.99. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 3.74, a PEG ratio of 1.45 and a beta of -0.06. Cal-Maine Foods, Inc. has a 1-year low of $42.25 and a 1-year high of $65.32.
Cal-Maine Foods (NASDAQ:CALM – Get Free Report) last announced its quarterly earnings data on Tuesday, October 3rd. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.31). The firm had revenue of $459.34 million during the quarter, compared to the consensus estimate of $479.52 million. Cal-Maine Foods had a net margin of 21.50% and a return on equity of 41.72%. The business’s revenue was down 30.2% compared to the same quarter last year. During the same period last year, the business earned $2.57 earnings per share. On average, equities research analysts forecast that Cal-Maine Foods, Inc. will post 2.08 earnings per share for the current year.
Cal-Maine Foods Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Wednesday, November 1st were paid a $0.006 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.02 dividend on an annualized basis and a yield of 0.05%. Cal-Maine Foods’s dividend payout ratio (DPR) is 0.15%.
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, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names.
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