Asset Management One Co. Ltd. Takes $883,000 Position in Cal-Maine Foods, Inc. $CALM

Asset Management One Co. Ltd. bought a new stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,759 shares of the basic materials company’s stock, valued at approximately $883,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Cal-Maine Foods by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,052,171 shares of the basic materials company’s stock valued at $193,118,000 after acquiring an additional 39,669 shares in the last quarter. State Street Corp lifted its position in Cal-Maine Foods by 6.8% during the second quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after buying an additional 108,578 shares in the last quarter. American Century Companies Inc. boosted its stake in 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 buying an additional 54,757 shares during the last quarter. Northern Trust Corp boosted its stake in Cal-Maine Foods by 8.4% during the third quarter. Northern Trust Corp now owns 900,466 shares of the basic materials company’s stock worth $84,734,000 after buying an additional 70,063 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Cal-Maine Foods by 6.6% in the 2nd quarter. Bank of America Corp DE now owns 705,671 shares of the basic materials company’s stock valued at $70,306,000 after buying an additional 43,414 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Stock Down 1.0%

NASDAQ:CALM opened at $76.18 on Friday. Cal-Maine Foods, Inc. has a 52 week low of $71.92 and a 52 week high of $126.40. The company has a market capitalization of $3.61 billion, a P/E ratio of 5.31 and a beta of 0.32. The stock’s fifty day moving average is $81.63 and its two-hundred day moving average is $83.83.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Wednesday, April 1st. The basic materials company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.The company had revenue of $666.95 million for the quarter, compared to the consensus estimate of $655.82 million. During the same quarter in the previous year, the business earned $10.39 earnings per share. The company’s revenue for the quarter was down 53.0% on a year-over-year basis.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be given a $0.36 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $1.44 dividend on an annualized basis and a yield of 1.9%. Cal-Maine Foods’s payout ratio is currently 20.14%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CALM shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Cal-Maine Foods in a research report on Friday, March 27th. Stephens raised their price objective on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday, March 3rd. Finally, BMO Capital Markets dropped their price target on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cal-Maine Foods currently has a consensus rating of “Hold” and an average 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.