BI Asset Management Fondsmaeglerselskab A S Trims Stake in Cal-Maine Foods, Inc. $CALM

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 66.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 131,695 shares of the basic materials company’s stock after selling 260,652 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cal-Maine Foods were worth $10,479,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. WealthCollab LLC boosted its holdings in shares of Cal-Maine Foods by 105.2% in the fourth quarter. WealthCollab LLC now owns 431 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 221 shares during the period. IFP Advisors Inc boosted its holdings in shares of Cal-Maine Foods by 58.2% in 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 period. Signaturefd LLC boosted its holdings in shares of Cal-Maine Foods by 46.5% in the fourth quarter. Signaturefd LLC now owns 488 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 155 shares during the period. National Bank of Canada FI purchased a new stake in shares of Cal-Maine Foods in the third quarter valued at approximately $42,000. Finally, Quarry LP boosted its holdings in shares of Cal-Maine Foods by 146.6% in the third 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. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CALM shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cal-Maine Foods in a report on Friday, March 27th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Stephens boosted their price objective on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 18th. Royal Bank Of Canada set a $100.00 price objective on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Finally, BMO Capital Markets reduced their price objective on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, March 25th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $94.17.

Cal-Maine Foods Trading Up 1.6%

NASDAQ CALM opened at $75.65 on Friday. The firm’s fifty day simple moving average is $76.91 and its two-hundred day simple moving average is $80.96. Cal-Maine Foods, Inc. has a 12-month low of $71.92 and a 12-month high of $126.40. The firm has a market capitalization of $3.58 billion, a P/E ratio of 5.27 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings results on Wednesday, April 1st. The basic materials company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.17. Cal-Maine Foods had a net margin of 20.07% and a return on equity of 26.05%. The business had revenue of $666.95 million for the quarter, compared to analyst estimates of $655.82 million. During the same period in the previous year, the company earned $10.39 earnings per share. The business’s revenue for the quarter was down 53.0% on a year-over-year basis.

Cal-Maine Foods Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, April 29th. Cal-Maine Foods’s payout ratio is currently 9.97%.

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.