Public Sector Pension Investment Board Increases Stock Holdings in Cal-Maine Foods, Inc. $CALM

Public Sector Pension Investment Board boosted its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 16.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 199,992 shares of the basic materials company’s stock after buying an additional 28,124 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cal-Maine Foods were worth $18,819,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CALM. J.W. Cole Advisors Inc. grew its stake in shares of Cal-Maine Foods by 3.2% during the second quarter. J.W. Cole Advisors Inc. now owns 3,280 shares of the basic materials company’s stock worth $327,000 after acquiring an additional 102 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Cal-Maine Foods by 12.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,022 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 116 shares during the last quarter. Truist Financial Corp boosted its stake in Cal-Maine Foods by 3.5% in the 2nd quarter. Truist Financial Corp now owns 3,541 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 121 shares in the last quarter. GAMMA Investing LLC grew its position in Cal-Maine Foods by 4.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,019 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 142 shares during the last quarter. Finally, Independent Advisor Alliance grew its position in Cal-Maine Foods by 1.1% during the 3rd quarter. Independent Advisor Alliance now owns 14,001 shares of the basic materials company’s stock worth $1,318,000 after purchasing an additional 148 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $83.44 on Friday. The company’s fifty day moving average price is $81.72 and its 200-day moving average price is $92.50. Cal-Maine Foods, Inc. has a 1-year low of $71.92 and a 1-year high of $126.40. The firm has a market capitalization of $3.98 billion, a P/E ratio of 3.53 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $769.50 million for the quarter, compared to analyst estimates of $828.46 million. During the same quarter in the prior year, the firm earned $4.47 earnings per share. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. Equities analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, January 28th. Cal-Maine Foods’s payout ratio is 12.21%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CALM shares. BMO Capital Markets decreased their price target on shares of Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, January 8th. Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Stephens set a $85.00 price target on Cal-Maine Foods and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Finally, Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, January 5th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $93.00.

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.