Elo Mutual Pension Insurance Co Purchases New Position in Cal-Maine Foods, Inc. $CALM

Elo Mutual Pension Insurance Co acquired a new position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,225 shares of the basic materials company’s stock, valued at approximately $1,903,000.

Several other institutional investors have also modified their holdings of CALM. Fisher Asset Management LLC grew its position in shares of Cal-Maine Foods by 5.3% in the 3rd quarter. Fisher Asset Management LLC now owns 220,781 shares of the basic materials company’s stock valued at $20,775,000 after buying an additional 11,127 shares during the last quarter. Sierra Summit Advisors LLC boosted its stake in Cal-Maine Foods by 51.4% in the third quarter. Sierra Summit Advisors LLC now owns 9,717 shares of the basic materials company’s stock valued at $914,000 after acquiring an additional 3,298 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Cal-Maine Foods by 3.5% during 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 purchasing an additional 54,757 shares during the last quarter. Xponance Inc. grew its holdings in shares of Cal-Maine Foods by 3.4% during the third quarter. Xponance Inc. now owns 3,694 shares of the basic materials company’s stock worth $348,000 after purchasing an additional 123 shares during the last quarter. Finally, Choreo LLC increased its position in shares of Cal-Maine Foods by 22.3% during the third quarter. Choreo LLC now owns 3,117 shares of the basic materials company’s stock worth $293,000 after purchasing an additional 568 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Trading Up 0.6%

Cal-Maine Foods stock opened at $88.50 on Thursday. The stock has a 50 day moving average of $81.49 and a two-hundred day moving average of $90.31. Cal-Maine Foods, Inc. has a twelve month low of $71.92 and a twelve month high of $126.40. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 3.74 and a beta of 0.26.

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

Cal-Maine Foods Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th were issued a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $2.88 annualized dividend and a dividend yield of 3.3%. Cal-Maine Foods’s payout ratio is presently 12.21%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CALM shares. BMO Capital Markets decreased 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 report on Thursday, January 8th. Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Stephens set a $85.00 target price on shares of Cal-Maine Foods and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Finally, Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.