New York Life Investment Management LLC Decreases Stake in Cal-Maine Foods, Inc. (NASDAQ:CALM)

New York Life Investment Management LLC lowered its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 17.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,769 shares of the basic materials company’s stock after selling 1,382 shares during the period. New York Life Investment Management LLC’s holdings in Cal-Maine Foods were worth $305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CALM. Los Angeles Capital Management LLC raised its holdings in shares of Cal-Maine Foods by 66.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 68,531 shares of the basic materials company’s stock worth $3,084,000 after acquiring an additional 27,450 shares during the period. Barclays PLC raised its holdings in Cal-Maine Foods by 21.0% in the 2nd quarter. Barclays PLC now owns 53,697 shares of the basic materials company’s stock valued at $2,416,000 after buying an additional 9,333 shares during the period. Scotia Capital Inc. raised its holdings in Cal-Maine Foods by 9.9% in the 2nd quarter. Scotia Capital Inc. now owns 27,481 shares of the basic materials company’s stock valued at $1,237,000 after buying an additional 2,477 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Cal-Maine Foods in the 2nd quarter valued at about $2,488,000. Finally, Bank of New York Mellon Corp raised its holdings in Cal-Maine Foods by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 688,311 shares of the basic materials company’s stock valued at $30,974,000 after buying an additional 2,269 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CALM. StockNews.com began coverage on shares of Cal-Maine Foods in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Stephens restated an “equal weight” rating and issued a $47.00 price objective on shares of Cal-Maine Foods in a report on Wednesday, October 4th.

Cal-Maine Foods Trading Down 0.8 %

Shares of CALM opened at $50.12 on Thursday. The firm has a market cap of $2.45 billion, a P/E ratio of 3.86, a price-to-earnings-growth ratio of 1.43 and a beta of -0.06. The company’s 50-day moving average price is $47.51 and its 200 day moving average price is $46.96. Cal-Maine Foods, Inc. has a 12-month low of $42.25 and a 12-month high of $65.32.

Cal-Maine Foods (NASDAQ:CALM) last released its earnings results on Tuesday, October 3rd. The basic materials company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.31). The firm had revenue of $459.34 million during the quarter, compared to analyst estimates of $479.52 million. Cal-Maine Foods had a net margin of 21.50% and a return on equity of 41.72%. The business’s revenue was down 30.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.57 earnings per share. Equities research analysts forecast that Cal-Maine Foods, Inc. will post 2.08 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Wednesday, November 1st will be given a $0.006 dividend. This represents a $0.02 annualized dividend and a yield of 0.05%. The ex-dividend date of this dividend is Tuesday, October 31st. Cal-Maine Foods’s dividend payout ratio is currently 0.15%.

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.