Bridgefront Capital LLC Takes $693,000 Position in Cal-Maine Foods, Inc. $CALM

Bridgefront Capital LLC bought a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 7,366 shares of the basic materials company’s stock, valued at approximately $693,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new position in Cal-Maine Foods in the third quarter valued at $32,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Cal-Maine Foods during the third quarter worth about $47,000. Financial Consulate Inc. purchased a new stake in shares of Cal-Maine Foods in the 3rd quarter valued at about $56,000. Banque Cantonale Vaudoise purchased a new stake in shares of Cal-Maine Foods in the 3rd quarter valued at about $61,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of 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 valued at $67,000 after purchasing an additional 300 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Stock Performance

Shares of CALM opened at $87.85 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 company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 3.71 and a beta of 0.26. The firm has a 50-day simple moving average of $82.58 and a 200-day simple moving average of $88.90.

Cal-Maine Foods (NASDAQ:CALM) last released 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). The company had revenue of $769.50 million for the quarter, compared to analysts’ expectations of $828.46 million. Cal-Maine Foods had a return on equity of 44.55% and a net margin of 27.37%.The business’s quarterly revenue was down 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $4.47 EPS. Equities research analysts forecast that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on CALM shares. Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday, March 3rd. BMO Capital Markets reduced their price objective 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. Weiss Ratings downgraded Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Finally, 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. One research 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, Cal-Maine Foods presently has an average rating of “Hold” and a consensus target price of $93.00.

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.