Northwestern Mutual Wealth Management Co. Increases Stock Position in Cal-Maine Foods, Inc. $CALM

Northwestern Mutual Wealth Management Co. increased its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 3,014.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 623,571 shares of the basic materials company’s stock after buying an additional 603,551 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Cal-Maine Foods were worth $49,618,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in shares of Cal-Maine Foods by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,052,171 shares of the basic materials company’s stock valued at $193,118,000 after buying an additional 39,669 shares during the last quarter. State Street Corp raised its position in shares of 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 valued at $171,038,000 after buying an additional 108,578 shares during the last quarter. American Century Companies Inc. raised its position in shares of Cal-Maine Foods by 3.5% in the third quarter. American Century Companies Inc. now owns 1,618,491 shares of the basic materials company’s stock valued at $152,300,000 after buying an additional 54,757 shares during the last quarter. Northern Trust Corp raised its position in shares of Cal-Maine Foods by 8.4% in the third quarter. Northern Trust Corp now owns 900,466 shares of the basic materials company’s stock valued at $84,734,000 after buying an additional 70,063 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Cal-Maine Foods by 6.6% in the second quarter. Bank of America Corp DE now owns 705,671 shares of the basic materials company’s stock valued at $70,306,000 after buying an additional 43,414 shares during the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cal-Maine Foods in a research report on Friday, March 27th. Stephens increased their target price on shares of 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. BMO Capital Markets reduced their target price on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a research report on Wednesday, March 25th. Finally, Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cal-Maine Foods has an average rating of “Hold” and a consensus price target of $93.00.

Cal-Maine Foods Trading Up 0.9%

Cal-Maine Foods stock opened at $77.61 on Tuesday. Cal-Maine Foods, Inc. has a 12-month low of $71.92 and a 12-month high of $126.40. The stock has a market cap of $3.68 billion, a P/E ratio of 5.41 and a beta of 0.28. The company has a 50-day moving average price of $79.22 and a 200 day moving average price of $82.16.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data 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 firm had revenue of $666.95 million during the quarter, compared to analysts’ expectations of $655.82 million. During the same period last year, the business earned $10.39 earnings per share. Cal-Maine Foods’s revenue was down 53.0% compared to the same quarter last year.

Cal-Maine Foods Cuts Dividend

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

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.