Cal-Maine Foods, Inc. $CALM Stock Holdings Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 46.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 38,853 shares of the basic materials company’s stock after buying an additional 12,248 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cal-Maine Foods were worth $3,092,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CALM. Sound Income Strategies LLC acquired a new position in shares of Cal-Maine Foods in the 3rd quarter worth $32,000. IFP Advisors Inc lifted its holdings in shares of Cal-Maine Foods by 58.2% during the third quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. National Bank of Canada FI purchased a new stake in shares of Cal-Maine Foods during the third quarter valued at $42,000. Carolina Wealth Advisors LLC acquired a new position in shares of Cal-Maine Foods in the 3rd quarter valued at $47,000. Finally, Quarry LP boosted its position in shares of Cal-Maine Foods by 146.6% in the 3rd quarter. Quarry LP now owns 587 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 349 shares during the period. 84.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on CALM shares. Stephens upped their price objective on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cal-Maine Foods in a research report on Friday. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, March 3rd. Finally, BMO Capital Markets reduced their price target on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a research report on Wednesday, March 25th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $93.00.

Cal-Maine Foods Trading Up 2.0%

Shares of CALM stock opened at $78.66 on Tuesday. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 3.32 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 stock’s fifty day simple moving average is $83.54 and its 200-day simple moving average is $86.40.

Cal-Maine Foods (NASDAQ:CALM) last announced 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 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 analysts’ expectations of $828.46 million. During the same period in the prior year, the company posted $4.47 earnings per share. The firm’s revenue was down 19.4% on a year-over-year basis. On average, sell-side analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The business also recently declared 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 3.7%. The ex-dividend date of this dividend was Wednesday, January 28th. Cal-Maine Foods’s dividend payout ratio 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.