Hussman Strategic Advisors Inc. Trims Stock Position in Cal-Maine Foods, Inc. $CALM

Hussman Strategic Advisors Inc. lessened its holdings in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 25.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,500 shares of the basic materials company’s stock after selling 10,500 shares during the period. Hussman Strategic Advisors Inc. owned about 0.06% of Cal-Maine Foods worth $2,964,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. IFP Advisors Inc raised its position in Cal-Maine Foods by 195.1% in the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 158 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Cal-Maine Foods during the 3rd quarter valued at $32,000. Carolina Wealth Advisors LLC purchased a new stake in shares of Cal-Maine Foods in the 3rd quarter worth $47,000. Financial Consulate Inc. bought a new position in Cal-Maine Foods in the 3rd quarter worth $56,000. Finally, Geneos Wealth Management Inc. raised its holdings in Cal-Maine Foods by 80.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock worth $67,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings cut Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Stephens set a $85.00 price objective on Cal-Maine Foods and gave the company an “equal weight” rating in a research note on Thursday, January 8th. The Goldman Sachs Group decreased their target price on shares of Cal-Maine Foods from $110.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Monday, January 5th. Finally, BMO Capital Markets dropped their price target on shares of Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, January 8th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Cal-Maine Foods presently has a consensus rating of “Hold” and an average target price of $93.00.

Cal-Maine Foods Trading Up 1.4%

NASDAQ CALM opened at $83.49 on Wednesday. The stock’s 50 day moving average is $81.95 and its 200 day moving average is $94.39. 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 $3.98 billion, a PE ratio of 3.53 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings data on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Cal-Maine Foods had a net margin of 27.37% and a return on equity of 44.55%. The company had revenue of $769.50 million for the quarter, compared to analysts’ expectations of $828.46 million. During the same period last year, the business earned $4.47 earnings per share. The company’s quarterly revenue was down 19.4% compared to the same quarter last year. On average, analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Wednesday, January 28th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, January 28th. Cal-Maine Foods’s payout ratio is currently 12.13%.

About Cal-Maine Foods

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.