Picton Mahoney Asset Management Buys 12,652 Shares of Cal-Maine Foods, Inc. $CALM

Picton Mahoney Asset Management boosted its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 263.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,450 shares of the basic materials company’s stock after acquiring an additional 12,652 shares during the quarter. Picton Mahoney Asset Management’s holdings in Cal-Maine Foods were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sound Income Strategies LLC bought a new stake in Cal-Maine Foods in the third quarter valued at approximately $32,000. Carolina Wealth Advisors LLC purchased a new position in shares of Cal-Maine Foods in the third quarter worth $47,000. Financial Consulate Inc. purchased a new position in shares of Cal-Maine Foods in the third quarter worth $56,000. Byrne Asset Management LLC bought a new stake in Cal-Maine Foods during the 3rd quarter valued at $66,000. Finally, Geneos Wealth Management Inc. raised its holdings in Cal-Maine Foods by 80.9% during 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. 84.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CALM shares. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a report on Tuesday. BMO Capital Markets dropped their target price on shares of Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, January 8th. Weiss Ratings cut Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. Finally, Stephens set a $85.00 price target on Cal-Maine Foods and gave the company an “equal weight” rating in a report on Thursday, January 8th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $93.00.

Cal-Maine Foods Trading Up 1.0%

Shares of Cal-Maine Foods stock opened at $89.35 on Friday. Cal-Maine Foods, Inc. has a 12-month low of $71.92 and a 12-month high of $126.40. The company has a market cap of $4.26 billion, a P/E ratio of 3.77 and a beta of 0.26. The company’s fifty day simple moving average is $81.62 and its two-hundred day simple moving average is $90.30.

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 analysts’ consensus estimates of $2.17 by ($0.04). Cal-Maine Foods had a net margin of 27.37% and a return on equity of 44.55%. The company had revenue of $769.50 million for the quarter, compared to the consensus estimate of $828.46 million. During the same period in the previous year, the firm posted $4.47 EPS. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. Analysts predict that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The company 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 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, January 28th. Cal-Maine Foods’s payout ratio is presently 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.