Cambria Investment Management L.P. Has $9.76 Million Position in Cal-Maine Foods, Inc. $CALM

Cambria Investment Management L.P. cut its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 6.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,725 shares of the basic materials company’s stock after selling 7,125 shares during the period. Cambria Investment Management L.P. owned about 0.21% of Cal-Maine Foods worth $9,761,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CALM. Wedge Capital Management L L P NC increased 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 worth $24,414,000 after acquiring an additional 237,566 shares during the last quarter. Principal Financial Group Inc. boosted its position in Cal-Maine Foods by 6.5% during 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 purchasing an additional 16,251 shares during the last quarter. Range Financial Group LLC boosted its position in Cal-Maine Foods by 1,274.2% during the third quarter. Range Financial Group LLC now owns 30,122 shares of the basic materials company’s stock valued at $2,834,000 after purchasing an additional 27,930 shares during the last quarter. CX Institutional purchased a new position in Cal-Maine Foods in the third quarter valued at about $6,488,000. Finally, New York State Common Retirement Fund grew its stake in Cal-Maine Foods by 42.2% in the third quarter. New York State Common Retirement Fund now owns 33,051 shares of the basic materials company’s stock valued at $3,110,000 after purchasing an additional 9,805 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Stephens upped their target price on Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, March 3rd. Weiss Ratings cut Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. Finally, BMO Capital Markets cut 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 report on Thursday, January 8th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $94.00.

Cal-Maine Foods Trading Down 3.4%

Shares of NASDAQ:CALM opened at $83.71 on Thursday. The stock has a market capitalization of $3.99 billion, a PE ratio of 3.54 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 firm has a fifty day moving average price of $83.02 and a 200 day moving average price of $88.47.

Cal-Maine Foods (NASDAQ:CALM) last posted 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 net margin of 27.37% and a return on equity of 44.55%. The company had revenue of $769.50 million for the quarter, compared to the consensus estimate of $828.46 million. During the same quarter last year, the business earned $4.47 earnings per share. Cal-Maine Foods’s quarterly revenue was down 19.4% on a year-over-year basis. On average, sell-side analysts forecast that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Wednesday, January 28th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, January 28th. Cal-Maine Foods’s dividend payout ratio (DPR) is 12.21%.

Cal-Maine Foods 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.