American Century Companies Inc. Grows Position in Cal-Maine Foods, Inc. $CALM

American Century Companies Inc. grew its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 3.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,618,491 shares of the basic materials company’s stock after acquiring an additional 54,757 shares during the period. American Century Companies Inc.’s holdings in Cal-Maine Foods were worth $152,300,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Cal-Maine Foods by 6.8% in the 2nd quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after buying an additional 108,578 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cal-Maine Foods by 7.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,095,246 shares of the basic materials company’s stock worth $109,132,000 after purchasing an additional 76,102 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Cal-Maine Foods by 60.1% during the 2nd quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock worth $93,058,000 after acquiring an additional 350,771 shares during the period. Bank of America Corp DE boosted its position in shares of Cal-Maine Foods by 6.6% during the 2nd quarter. Bank of America Corp DE now owns 705,671 shares of the basic materials company’s stock valued at $70,306,000 after acquiring an additional 43,414 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Cal-Maine Foods by 19.5% during the 2nd quarter. Invesco Ltd. now owns 650,817 shares of the basic materials company’s stock valued at $64,841,000 after buying an additional 106,057 shares during the period. Institutional investors and hedge funds own 84.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CALM. Weiss Ratings cut 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 price target on shares of Cal-Maine Foods and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. BMO Capital Markets lowered 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. Finally, Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, January 5th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Cal-Maine Foods has a consensus rating of “Hold” and an average price target of $93.00.

Cal-Maine Foods Price Performance

Shares of CALM stock opened at $87.11 on Monday. The business’s fifty day moving average price is $81.18 and its 200 day moving average price is $90.62. The firm has a market capitalization of $4.15 billion, a PE ratio of 3.68 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.

Cal-Maine Foods (NASDAQ:CALM) last issued its 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 company had revenue of $769.50 million for the quarter, compared to analyst estimates 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 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th were issued a dividend of $0.72 per share. The ex-dividend date was Wednesday, January 28th. This represents a $2.88 annualized dividend and a dividend yield of 3.3%. Cal-Maine Foods’s dividend payout ratio (DPR) 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.