Elo Mutual Pension Insurance Co Takes Position in Cal-Maine Foods, Inc. $CALM

Elo Mutual Pension Insurance Co purchased a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) during the third quarter, HoldingsChannel.com reports. The firm purchased 20,225 shares of the basic materials company’s stock, valued at approximately $1,903,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CALM. Wedge Capital Management L L P NC lifted its stake in shares of 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 valued at $24,414,000 after purchasing an additional 237,566 shares during the period. Principal Financial Group Inc. increased its holdings in Cal-Maine Foods by 6.5% in the third quarter. Principal Financial Group Inc. now owns 268,026 shares of the basic materials company’s stock valued at $25,221,000 after buying an additional 16,251 shares in the last quarter. Range Financial Group LLC lifted its position in shares of Cal-Maine Foods by 1,274.2% during the 3rd quarter. Range Financial Group LLC now owns 30,122 shares of the basic materials company’s stock valued at $2,834,000 after acquiring an additional 27,930 shares during the period. CX Institutional purchased a new stake in shares of Cal-Maine Foods during the 3rd quarter worth approximately $6,488,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Cal-Maine Foods by 42.2% during the 3rd quarter. New York State Common Retirement Fund now owns 33,051 shares of the basic materials company’s stock worth $3,110,000 after acquiring an additional 9,805 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Analysts Set New Price Targets

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

Cal-Maine Foods Stock Up 0.6%

Shares of NASDAQ:CALM opened at $88.50 on Thursday. The company has a market capitalization of $4.22 billion, a P/E ratio of 3.74 and a beta of 0.26. Cal-Maine Foods, Inc. has a 52-week low of $71.92 and a 52-week high of $126.40. The stock’s fifty day simple moving average is $81.49 and its 200-day simple moving average is $90.31.

Cal-Maine Foods (NASDAQ:CALM) last announced 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). The firm had revenue of $769.50 million during the quarter, compared to analyst estimates of $828.46 million. Cal-Maine Foods had a net margin of 27.37% and a return on equity of 44.55%. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.47 EPS. On average, sell-side analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 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, February 12th. Stockholders of record on Wednesday, January 28th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, January 28th. Cal-Maine Foods’s payout ratio is currently 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.