Alps Advisors Inc. Has $5.93 Million Holdings in Cal-Maine Foods, Inc. $CALM

Alps Advisors Inc. lessened its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 35.2% during the third quarter, Holdings Channel reports. The fund owned 63,044 shares of the basic materials company’s stock after selling 34,297 shares during the quarter. Alps Advisors Inc.’s holdings in Cal-Maine Foods were worth $5,932,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Hennessy Advisors Inc. acquired a new position in Cal-Maine Foods during the 3rd quarter worth approximately $38,063,000. Squarepoint Ops LLC increased its holdings in shares of Cal-Maine Foods by 60.1% during the second quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock valued at $93,058,000 after acquiring an additional 350,771 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of Cal-Maine Foods by 1,085.8% during 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 period. BI Asset Management Fondsmaeglerselskab A S increased its stake in Cal-Maine Foods by 165.6% during the 2nd 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 increased its position in shares of 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 worth $43,377,000 after acquiring an additional 174,576 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Price Performance

NASDAQ CALM opened at $82.53 on Monday. The stock has a market capitalization of $3.93 billion, a PE ratio of 3.49 and a beta of 0.26. Cal-Maine Foods, Inc. has a 1 year low of $71.92 and a 1 year high of $126.40. The company’s 50 day simple moving average is $81.80 and its two-hundred day simple moving average is $93.11.

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

Cal-Maine Foods Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Wednesday, January 28th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, January 28th. This represents a $2.88 annualized dividend and a yield of 3.5%. Cal-Maine Foods’s payout ratio is 12.21%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CALM shares. BMO Capital Markets decreased their price target on Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, January 8th. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a research report on Monday, January 5th. Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Finally, Stephens set a $85.00 target price on shares of Cal-Maine Foods and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $93.00.

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.