Fisher Asset Management LLC Boosts Stock Holdings in Cal-Maine Foods, Inc. $CALM

Fisher Asset Management LLC increased its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 5.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 220,781 shares of the basic materials company’s stock after purchasing an additional 11,127 shares during the period. Fisher Asset Management LLC owned 0.46% of Cal-Maine Foods worth $20,775,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CALM. Sierra Summit Advisors LLC grew its holdings 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 worth $914,000 after purchasing an additional 3,298 shares during the last quarter. American Century Companies Inc. boosted 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 purchasing an additional 54,757 shares during the last quarter. Xponance Inc. grew its holdings in 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 acquiring an additional 123 shares during the period. Choreo LLC grew its stake in shares of Cal-Maine Foods by 22.3% during the 3rd quarter. Choreo LLC now owns 3,117 shares of the basic materials company’s stock worth $293,000 after purchasing an additional 568 shares during the period. Finally, Brucke Financial Inc. acquired a new stake in Cal-Maine Foods during the third quarter valued at $205,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CALM. BMO Capital Markets reduced their price target on Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, January 8th. Stephens set a $85.00 price target on shares of Cal-Maine Foods and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday. Finally, Weiss Ratings lowered shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $93.00.

Cal-Maine Foods Stock Up 0.6%

Shares of CALM stock opened at $88.50 on Thursday. Cal-Maine Foods, Inc. has a 52 week low of $71.92 and a 52 week high of $126.40. The stock has a market capitalization of $4.22 billion, a PE ratio of 3.74 and a beta of 0.26. The firm has a 50 day moving average of $81.49 and a two-hundred day moving average of $90.31.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $828.46 million. During the same period in the prior year, the business earned $4.47 EPS. Cal-Maine Foods’s revenue for the quarter was down 19.4% on a year-over-year basis. Analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

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

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. 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.