Hussman Strategic Advisors Inc. Sells 10,500 Shares of Cal-Maine Foods, Inc. $CALM

Hussman Strategic Advisors Inc. cut its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 25.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,500 shares of the basic materials company’s stock after selling 10,500 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Cal-Maine Foods were worth $2,964,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Hennessy Advisors Inc. bought a new stake in Cal-Maine Foods in the 3rd quarter worth approximately $38,063,000. Squarepoint Ops LLC grew its holdings in shares of Cal-Maine Foods by 60.1% in the second quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock valued at $93,058,000 after purchasing an additional 350,771 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Cal-Maine Foods by 1,085.8% in the third quarter. Wedge Capital Management L L P NC now owns 259,445 shares of the basic materials company’s stock worth $24,414,000 after purchasing an additional 237,566 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in Cal-Maine Foods by 165.6% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 291,434 shares of the basic materials company’s stock valued at $29,036,000 after purchasing an additional 181,715 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Cal-Maine Foods by 66.9% during the second quarter. Qube Research & Technologies Ltd now owns 435,376 shares of the basic materials company’s stock valued at $43,377,000 after purchasing an additional 174,576 shares during the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CALM. BMO Capital Markets reduced their target price on shares of Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, January 8th. Stephens set a $85.00 price objective on Cal-Maine Foods and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. The Goldman Sachs Group dropped their target price on Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Finally, Lake Street Capital set a $97.00 price target on Cal-Maine Foods in a report on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $93.00.

Cal-Maine Foods Price Performance

Shares of NASDAQ:CALM opened at $83.49 on Wednesday. The firm has a market capitalization of $3.98 billion, a PE ratio of 3.53 and a beta of 0.26. The business has a 50 day simple moving average of $81.95 and a two-hundred day simple moving average of $94.39. Cal-Maine Foods, Inc. has a 1 year low of $71.92 and a 1 year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Cal-Maine Foods had a return on equity of 44.55% and a net margin of 27.37%.The business had revenue of $769.50 million during the quarter, compared to analysts’ expectations of $828.46 million. During the same quarter in the previous year, the company posted $4.47 earnings per share. The company’s quarterly revenue was down 19.4% compared to the same quarter last year. Equities research analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, January 28th. Cal-Maine Foods’s payout ratio is currently 12.13%.

Cal-Maine Foods Company 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, 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. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.