Skandinaviska Enskilda Banken AB publ Reduces Stake in Cal-Maine Foods, Inc. $CALM

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 69.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,758 shares of the basic materials company’s stock after selling 13,342 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Cal-Maine Foods were worth $541,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new position in Cal-Maine Foods in the third quarter valued at approximately $32,000. Carolina Wealth Advisors LLC acquired a new position in shares of Cal-Maine Foods in the 3rd quarter valued at $47,000. Financial Consulate Inc. acquired a new position in shares of Cal-Maine Foods in the 3rd quarter valued at $56,000. Geneos Wealth Management Inc. grew 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 buying an additional 300 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in Cal-Maine Foods during the 3rd quarter worth $66,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Stock Performance

NASDAQ CALM opened at $83.81 on Friday. The firm has a market cap of $3.99 billion, a PE ratio of 3.54 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 firm’s fifty day moving average is $81.37 and its two-hundred day moving average is $91.52.

Cal-Maine Foods (NASDAQ:CALM) last announced 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). The business had revenue of $769.50 million for the quarter, compared to analyst estimates of $828.46 million. Cal-Maine Foods had a return on equity of 44.55% and a net margin of 27.37%.Cal-Maine Foods’s quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the company posted $4.47 EPS. 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Wednesday, January 28th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, January 28th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 12.21%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CALM. Stephens set a $85.00 price target on shares of Cal-Maine Foods and gave the company an “equal weight” rating in a research report on Thursday, January 8th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a report on Monday, January 5th. BMO Capital Markets decreased their target price 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. Finally, Weiss Ratings lowered Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.