Alps Advisors Inc. Sells 34,297 Shares of Cal-Maine Foods, Inc. $CALM

Alps Advisors Inc. decreased its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 35.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,044 shares of the basic materials company’s stock after selling 34,297 shares during the period. Alps Advisors Inc. owned 0.13% of Cal-Maine Foods worth $5,932,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CALM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cal-Maine Foods by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,401 shares of the basic materials company’s stock worth $2,218,000 after buying an additional 1,057 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Cal-Maine Foods by 100.8% during the 1st quarter. NewEdge Advisors LLC now owns 7,985 shares of the basic materials company’s stock worth $726,000 after purchasing an additional 4,009 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Cal-Maine Foods in the 1st quarter valued at about $245,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Cal-Maine Foods by 10.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,422 shares of the basic materials company’s stock valued at $7,765,000 after purchasing an additional 7,736 shares during the period. Finally, Truist Financial Corp lifted its stake in Cal-Maine Foods by 3.5% in the 2nd quarter. Truist Financial Corp now owns 3,541 shares of the basic materials company’s stock valued at $353,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $82.53 on Monday. Cal-Maine Foods, Inc. has a fifty-two week low of $71.92 and a fifty-two week high of $126.40. The stock’s fifty day moving average price is $81.80 and its two-hundred day moving average price is $93.11. The company has a market cap of $3.93 billion, a PE ratio of 3.49 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last announced its quarterly earnings results on Wednesday, January 7th. The basic materials company reported $2.13 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 firm had revenue of $769.50 million during the quarter, compared to the consensus estimate of $828.46 million. During the same quarter in the previous year, the company posted $4.47 earnings per share. The firm’s revenue was down 19.4% on a year-over-year basis. On average, equities analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The company 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 dividend of $0.72 per share. The ex-dividend date is Wednesday, January 28th. This represents a $2.88 annualized dividend and a yield of 3.5%. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 12.21%.

Analyst Ratings Changes

Several research analysts have recently commented on CALM shares. BMO Capital Markets reduced their target price on Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, January 8th. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Monday, January 5th. Stephens set a $85.00 price objective on shares of Cal-Maine Foods and gave the company an “equal weight” rating in a report on Thursday, January 8th. Finally, Weiss Ratings lowered shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. 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 MarketBeat.com, the company has an average 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.