Andina Capital Management LLC Buys Shares of 6,676 Cal-Maine Foods, Inc. $CALM

Andina Capital Management LLC purchased a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the first quarter, Holdings Channel.com reports. The fund purchased 6,676 shares of the basic materials company’s stock, valued at approximately $528,000.

Other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Cal-Maine Foods by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,218,573 shares of the basic materials company’s stock valued at $176,536,000 after acquiring an additional 166,402 shares in the last quarter. State Street Corp raised its holdings in Cal-Maine Foods by 6.8% during the second quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after purchasing an additional 108,578 shares in the last quarter. American Century Companies Inc. raised its holdings in Cal-Maine Foods by 3.5% during the third quarter. American Century Companies Inc. now owns 1,618,491 shares of the basic materials company’s stock worth $152,300,000 after purchasing an additional 54,757 shares in the last quarter. First Trust Advisors LP lifted its position in Cal-Maine Foods by 8.8% in the fourth quarter. First Trust Advisors LP now owns 1,196,535 shares of the basic materials company’s stock worth $95,208,000 after purchasing an additional 96,589 shares during the period. Finally, Morgan Stanley lifted its position in Cal-Maine Foods by 9.4% in the fourth quarter. Morgan Stanley now owns 978,163 shares of the basic materials company’s stock worth $77,832,000 after purchasing an additional 84,124 shares during the period. 84.67% of the stock is owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Up 4.7%

Shares of Cal-Maine Foods stock opened at $79.57 on Wednesday. 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 $3.77 billion, a PE ratio of 5.54 and a beta of 0.26. The stock’s fifty day moving average is $76.89 and its 200-day moving average is $80.38.

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 for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. The business had revenue of $666.95 million during the quarter, compared to analyst estimates of $655.82 million. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.Cal-Maine Foods’s revenue for the quarter was down 53.0% on a year-over-year basis. During the same quarter last year, the company posted $10.39 EPS.

Cal-Maine Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $1.44 dividend on an annualized basis and a yield of 1.8%. Cal-Maine Foods’s dividend payout ratio is currently 9.97%.

Wall Street Analyst Weigh In

CALM has been the topic of several research analyst reports. Stephens lifted their price target on Cal-Maine Foods from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Cal-Maine Foods in a report on Friday, March 27th. BMO Capital Markets decreased their target price on 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. Royal Bank Of Canada set a $100.00 target price on Cal-Maine Foods in a report on Tuesday, May 26th. Finally, Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $94.17.

About Cal-Maine Foods

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.