Advisors Asset Management Inc. Has $4.88 Million Stock Holdings in Cal-Maine Foods, Inc. $CALM

Advisors Asset Management Inc. raised its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 32.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,820 shares of the basic materials company’s stock after purchasing an additional 12,767 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.11% of Cal-Maine Foods worth $4,876,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. IFP Advisors Inc increased its position in Cal-Maine Foods by 195.1% during the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock worth $25,000 after buying an additional 158 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Cal-Maine Foods in the third quarter valued at approximately $32,000. Carolina Wealth Advisors LLC acquired a new position in Cal-Maine Foods in the 3rd quarter valued at $47,000. Financial Consulate Inc. bought a new stake in Cal-Maine Foods during the third quarter worth about $56,000. Finally, Byrne Asset Management LLC bought a new stake in shares of Cal-Maine Foods during the 3rd quarter worth approximately $66,000. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Cal-Maine Foods Price Performance

NASDAQ CALM opened at $83.21 on Friday. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 3.52 and a beta of 0.26. Cal-Maine Foods, Inc. has a one year low of $71.92 and a one year high of $126.40. The business’s fifty day moving average is $81.75 and its 200-day moving average is $92.64.

Cal-Maine Foods (NASDAQ:CALM) last issued its quarterly earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share (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 in the previous year, the business earned $4.47 EPS. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. Research analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Wednesday, January 28th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $2.88 dividend on an annualized basis and a yield of 3.5%. Cal-Maine Foods’s dividend payout ratio is 12.21%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Weiss Ratings lowered Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. BMO Capital Markets lowered 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 report on Thursday, January 8th. Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a research report on Monday, January 5th. Finally, Stephens set a $85.00 price objective on shares of Cal-Maine Foods and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Cal-Maine Foods has a consensus rating of “Hold” and an average price target 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.