Advisors Asset Management Inc. Buys 12,767 Shares of Cal-Maine Foods, Inc. $CALM

Advisors Asset Management Inc. grew its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 32.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,820 shares of the basic materials company’s stock after buying an additional 12,767 shares during the quarter. Advisors Asset Management Inc.’s holdings in Cal-Maine Foods were worth $4,876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CALM. IFP Advisors Inc boosted its stake in shares of Cal-Maine Foods by 195.1% in the 2nd quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 158 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Cal-Maine Foods in the 3rd quarter worth approximately $32,000. Carolina Wealth Advisors LLC purchased a new position in Cal-Maine Foods during the 3rd quarter valued at $47,000. Financial Consulate Inc. bought a new position in Cal-Maine Foods in the third quarter worth about $56,000. Finally, Byrne Asset Management LLC purchased a new position in shares of Cal-Maine Foods in the 3rd quarter valued at approximately $66,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CALM. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a report on Monday, January 5th. Weiss Ratings downgraded shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Stephens set a $85.00 target price on shares of Cal-Maine Foods and gave the company an “equal weight” rating in a research note on Thursday, January 8th. Finally, BMO Capital Markets lowered their price target on 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. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $93.00.

Cal-Maine Foods Price Performance

Shares of CALM stock opened at $83.21 on Friday. The company’s fifty day moving average price is $81.75 and its 200-day moving average price is $92.64. Cal-Maine Foods, Inc. has a one year low of $71.92 and a one year high of $126.40. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 3.52 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $828.46 million. During the same period last year, the company earned $4.47 EPS. The business’s revenue was down 19.4% on a year-over-year basis. Equities research analysts expect that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

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

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.