Intech Investment Management LLC Sells 134,028 Shares of Cal-Maine Foods, Inc. $CALM

Intech Investment Management LLC decreased its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 70.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,195 shares of the basic materials company’s stock after selling 134,028 shares during the quarter. Intech Investment Management LLC owned about 0.12% of Cal-Maine Foods worth $4,551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CALM. Northwestern Mutual Wealth Management Co. boosted its stake in Cal-Maine Foods by 3,014.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 623,571 shares of the basic materials company’s stock worth $49,618,000 after acquiring an additional 603,551 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Cal-Maine Foods by 66.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 435,376 shares of the basic materials company’s stock worth $43,377,000 after acquiring an additional 174,576 shares during the last quarter. UBS Group AG boosted its stake in Cal-Maine Foods by 82.4% during the 3rd quarter. UBS Group AG now owns 345,800 shares of the basic materials company’s stock worth $32,540,000 after acquiring an additional 156,256 shares during the last quarter. State Street Corp boosted its stake in Cal-Maine Foods by 6.8% during the 2nd quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after acquiring an additional 108,578 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Cal-Maine Foods by 397.7% during the 3rd quarter. Mackenzie Financial Corp now owns 130,269 shares of the basic materials company’s stock worth $12,258,000 after acquiring an additional 104,095 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $74.72 on Monday. The company has a market capitalization of $3.54 billion, a P/E ratio of 5.21 and a beta of 0.26. The company’s 50 day moving average price is $77.28 and its two-hundred day moving average price is $81.44. Cal-Maine Foods, Inc. has a 52 week low of $71.92 and a 52 week high of $126.40.

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

Cal-Maine Foods Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were issued a $0.36 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.9%. Cal-Maine Foods’s dividend payout ratio (DPR) is 9.97%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank Of Canada set a $100.00 price objective on shares of Cal-Maine Foods in a research note on Tuesday, May 26th. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, May 26th. BMO Capital Markets dropped their target price on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a report on Wednesday, March 25th. Stephens raised their target price on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cal-Maine Foods in a report on Friday, March 27th. One investment 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, the company currently has a consensus rating of “Hold” and an average target price of $94.17.

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.