Intech Investment Management LLC Increases Stock Position in Cal-Maine Foods, Inc. $CALM

Intech Investment Management LLC boosted its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 41.2% in the 3rd quarter, Holdings Channel reports. The firm owned 191,223 shares of the basic materials company’s stock after acquiring an additional 55,836 shares during the quarter. Intech Investment Management LLC’s holdings in Cal-Maine Foods were worth $17,994,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CALM. Hennessy Advisors Inc. bought a new position in Cal-Maine Foods in the 3rd quarter worth about $38,063,000. Squarepoint Ops LLC increased its holdings in Cal-Maine Foods by 60.1% during the second quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock valued at $93,058,000 after buying an additional 350,771 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Cal-Maine Foods by 1,085.8% in the third quarter. Wedge Capital Management L L P NC now owns 259,445 shares of the basic materials company’s stock worth $24,414,000 after buying an additional 237,566 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in Cal-Maine Foods by 165.6% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 291,434 shares of the basic materials company’s stock worth $29,036,000 after buying an additional 181,715 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Cal-Maine Foods by 66.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 435,376 shares of the basic materials company’s stock worth $43,377,000 after purchasing an additional 174,576 shares in the last quarter. 84.67% of the stock is currently owned by hedge funds and other institutional investors.

Cal-Maine Foods Stock Performance

Shares of NASDAQ CALM opened at $84.43 on Thursday. Cal-Maine Foods, Inc. has a 1 year low of $71.92 and a 1 year high of $126.40. The company’s fifty day moving average price is $81.20 and its 200 day moving average price is $91.07. The company has a market capitalization of $4.02 billion, a PE ratio of 3.57 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data 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). The firm had revenue of $769.50 million during 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%.The company’s quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.47 earnings per share. On average, equities analysts expect that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Cal-Maine Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Wednesday, January 28th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Wednesday, January 28th. Cal-Maine Foods’s dividend payout ratio (DPR) is presently 12.21%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CALM shares. Weiss Ratings lowered Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a report on Monday, January 5th. BMO Capital Markets reduced 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. Finally, Stephens set a $85.00 price target on shares of Cal-Maine Foods and gave the company an “equal weight” rating 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.