Hennion & Walsh Asset Management Inc. Purchases 8,005 Shares of Cal-Maine Foods, Inc. $CALM

Hennion & Walsh Asset Management Inc. raised its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 22.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 42,994 shares of the basic materials company’s stock after acquiring an additional 8,005 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Cal-Maine Foods were worth $3,421,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sound Income Strategies LLC acquired a new position in shares of Cal-Maine Foods during the third quarter worth approximately $32,000. IFP Advisors Inc grew its position in Cal-Maine Foods by 58.2% in the 3rd quarter. IFP Advisors Inc now owns 378 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 139 shares during the period. National Bank of Canada FI bought a new stake in Cal-Maine Foods during the 3rd quarter valued at $42,000. Carolina Wealth Advisors LLC bought a new stake in Cal-Maine Foods during the 3rd quarter valued at $47,000. Finally, Quarry LP raised its holdings in Cal-Maine Foods by 146.6% during the third quarter. Quarry LP now owns 587 shares of the basic materials company’s stock worth $55,000 after buying an additional 349 shares during the last quarter. Institutional investors own 84.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 25th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. Stephens upped their target price on shares of Cal-Maine Foods from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cal-Maine Foods in a research report on Friday. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $93.00.

Cal-Maine Foods Price Performance

NASDAQ CALM opened at $78.66 on Tuesday. The company has a fifty day moving average price of $83.54 and a 200-day moving average price of $86.40. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 3.32 and a beta of 0.26. Cal-Maine Foods, Inc. has a 1 year low of $71.92 and a 1 year high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly 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 firm 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 business earned $4.47 earnings per share. The firm’s revenue for the quarter was down 19.4% on a year-over-year basis. On average, research analysts anticipate 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 paid a $0.72 dividend. The ex-dividend date was Wednesday, January 28th. This represents a $2.88 annualized dividend and a yield of 3.7%. Cal-Maine Foods’s dividend payout ratio (DPR) is 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.