Cal-Maine Foods, Inc. $CALM Stock Holdings Decreased by Allianz Asset Management GmbH

Allianz Asset Management GmbH lowered its position in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 45.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,155 shares of the basic materials company’s stock after selling 76,769 shares during the quarter. Allianz Asset Management GmbH owned 0.19% of Cal-Maine Foods worth $8,578,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in Cal-Maine Foods by 195.1% during the 2nd quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 158 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Cal-Maine Foods during the third quarter valued at $32,000. Carolina Wealth Advisors LLC acquired a new position in Cal-Maine Foods during the third quarter valued at $47,000. Financial Consulate Inc. acquired a new position in Cal-Maine Foods during the third quarter valued at $56,000. Finally, Geneos Wealth Management Inc. lifted its stake in 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 worth $67,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CALM. Stephens set a $85.00 target price on Cal-Maine Foods and gave the company an “equal weight” rating in a research note on Thursday, January 8th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research note on Monday, January 5th. Weiss Ratings lowered shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. Finally, BMO Capital Markets lowered their target price on Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, January 8th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $93.00.

Cal-Maine Foods Stock Performance

CALM opened at $82.49 on Tuesday. The company has a market cap of $3.93 billion, a PE ratio of 3.49 and a beta of 0.26. The stock has a 50-day moving average of $81.78 and a 200-day moving average of $92.94. Cal-Maine Foods, Inc. has a 52-week low of $71.92 and a 52-week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last posted its earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share 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 during the quarter, compared to analyst estimates of $828.46 million. During the same quarter last year, the firm posted $4.47 earnings per share. The firm’s revenue for the quarter was down 19.4% compared to the same quarter last year. On average, research 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 disclosed a quarterly dividend, which will be paid on Thursday, February 12th. Investors of record on Wednesday, January 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, January 28th. Cal-Maine Foods’s dividend payout ratio is currently 12.21%.

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.