Comerica Bank Trims Holdings in Cal-Maine Foods, Inc. $CALM

Comerica Bank decreased its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 58.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,952 shares of the basic materials company’s stock after selling 19,798 shares during the period. Comerica Bank’s holdings in Cal-Maine Foods were worth $1,110,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CALM. Qube Research & Technologies Ltd increased its stake in Cal-Maine Foods by 66.9% in the second quarter. Qube Research & Technologies Ltd now owns 435,376 shares of the basic materials company’s stock worth $43,377,000 after purchasing an additional 174,576 shares during the period. UBS Group AG increased its stake in Cal-Maine Foods by 82.4% in the third quarter. UBS Group AG now owns 345,800 shares of the basic materials company’s stock worth $32,540,000 after purchasing an additional 156,256 shares during the period. State Street Corp increased its stake in Cal-Maine Foods by 6.8% in 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 during the period. Mackenzie Financial Corp increased its stake in Cal-Maine Foods by 397.7% in the third quarter. Mackenzie Financial Corp now owns 130,269 shares of the basic materials company’s stock worth $12,258,000 after purchasing an additional 104,095 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in Cal-Maine Foods by 34.6% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 392,347 shares of the basic materials company’s stock worth $36,920,000 after purchasing an additional 100,913 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Trading Up 0.5%

Shares of Cal-Maine Foods stock opened at $76.09 on Friday. The firm has a market cap of $3.61 billion, a P/E ratio of 5.30 and a beta of 0.28. Cal-Maine Foods, Inc. has a 12 month low of $71.92 and a 12 month high of $126.40. The stock’s fifty day moving average price is $80.54 and its 200-day moving average price is $82.78.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Wednesday, April 1st. The basic materials company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.89 by $0.17. The firm had revenue of $666.95 million for 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%.The business’s revenue for the quarter was down 53.0% on a year-over-year basis. During the same quarter last year, the firm posted $10.39 earnings per share.

Cal-Maine Foods Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, April 29th. Cal-Maine Foods’s payout ratio is 9.97%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CALM shares. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday, March 3rd. BMO Capital Markets cut their price target on Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 25th. Stephens raised their price target on 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. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cal-Maine Foods in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.