Cal-Maine Foods, Inc. $CALM Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,177,377 shares of the basic materials company’s stock after selling 11,660 shares during the quarter. Geode Capital Management LLC owned 2.47% of Cal-Maine Foods worth $93,698,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Cal-Maine Foods by 6.5% during the 3rd quarter. Principal Financial Group Inc. now owns 268,026 shares of the basic materials company’s stock worth $25,221,000 after buying an additional 16,251 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Cal-Maine Foods by 42.2% in the third quarter. New York State Common Retirement Fund now owns 33,051 shares of the basic materials company’s stock valued at $3,110,000 after acquiring an additional 9,805 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Cal-Maine Foods in the fourth quarter valued at approximately $6,244,000. American Century Companies Inc. raised its holdings 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 valued at $152,300,000 after acquiring an additional 54,757 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co acquired a new stake in Cal-Maine Foods in the third quarter valued at approximately $1,903,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Up 1.6%

Shares of Cal-Maine Foods stock opened at $75.65 on Friday. The firm has a market capitalization of $3.58 billion, a P/E ratio of 5.27 and a beta of 0.26. Cal-Maine Foods, Inc. has a 52 week low of $71.92 and a 52 week high of $126.40. The firm’s 50 day moving average is $76.91 and its two-hundred day moving average is $80.96.

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 company had revenue of $666.95 million for the quarter, compared to analyst estimates of $655.82 million. Cal-Maine Foods had a net margin of 20.07% and a return on equity of 26.05%. The firm’s revenue was down 53.0% on a year-over-year basis. During the same period in the prior year, the firm posted $10.39 earnings per share.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, April 29th. Cal-Maine Foods’s payout ratio is presently 9.97%.

Analysts Set New Price Targets

Several analysts recently weighed in on CALM shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cal-Maine Foods in a report on Friday, March 27th. Stephens raised 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 report on Wednesday, March 18th. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Royal Bank Of Canada set a $100.00 target price on shares of Cal-Maine Foods in a report on Tuesday, May 26th. Finally, 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 on the stock in a report on Wednesday, March 25th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $94.17.

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.