Csenge Advisory Group Cuts Position in Cal-Maine Foods, Inc. $CALM

Csenge Advisory Group decreased its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 48.3% in the 4th quarter, HoldingsChannel reports. The fund owned 21,760 shares of the basic materials company’s stock after selling 20,342 shares during the quarter. Csenge Advisory Group’s holdings in Cal-Maine Foods were worth $1,731,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in 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 worth $193,118,000 after acquiring an additional 39,669 shares in the last quarter. State Street Corp raised its position 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 acquiring an additional 108,578 shares in the last quarter. American Century Companies Inc. raised its position in 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 worth $152,300,000 after acquiring an additional 54,757 shares in the last quarter. Northern Trust Corp raised its position in 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 worth $84,734,000 after acquiring an additional 70,063 shares in the last quarter. Finally, Bank of America Corp DE raised its position in 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 worth $70,306,000 after acquiring an additional 43,414 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Stock Up 1.2%

Shares of CALM stock opened at $78.57 on Wednesday. Cal-Maine Foods, Inc. has a fifty-two week low of $71.92 and a fifty-two week high of $126.40. The stock has a market cap of $3.72 billion, a P/E ratio of 5.48 and a beta of 0.28. The business has a fifty day simple moving average of $78.99 and a 200-day simple moving average of $82.10.

Cal-Maine Foods (NASDAQ:CALM) last announced 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. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.The business had revenue of $666.95 million during the quarter, compared to analysts’ expectations of $655.82 million. During the same quarter last year, the business posted $10.39 earnings per share. The business’s revenue for the quarter was down 53.0% on a year-over-year basis.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors 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 dividend yield of 1.8%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 9.97%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CALM. BMO Capital Markets cut their price objective on 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Cal-Maine Foods in a report on Friday, March 27th. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. Finally, 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 report on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $93.00.

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.