AlphaCrest Capital Management LLC Boosts Stock Position in Cal-Maine Foods, Inc. (NASDAQ:CALM)

AlphaCrest Capital Management LLC grew its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALMGet Rating) by 25.8% during the second quarter, Holdings Channel reports. The institutional investor owned 39,651 shares of the basic materials company’s stock after buying an additional 8,128 shares during the period. AlphaCrest Capital Management LLC’s holdings in Cal-Maine Foods were worth $1,959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CALM. Mutual of America Capital Management LLC lifted its holdings in Cal-Maine Foods by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 5,396 shares of the basic materials company’s stock worth $298,000 after purchasing an additional 280 shares in the last quarter. FDx Advisors Inc. purchased a new position in Cal-Maine Foods in the 1st quarter worth approximately $209,000. Russell Investments Group Ltd. purchased a new position in Cal-Maine Foods in the 1st quarter worth approximately $817,000. New York State Common Retirement Fund lifted its holdings in Cal-Maine Foods by 21.5% in the 1st quarter. New York State Common Retirement Fund now owns 30,600 shares of the basic materials company’s stock worth $1,690,000 after purchasing an additional 5,410 shares in the last quarter. Finally, Leeward Investments LLC MA purchased a new position in Cal-Maine Foods in the 1st quarter worth approximately $12,247,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on CALM. TheStreet raised Cal-Maine Foods from a “c+” rating to an “a” rating in a report on Monday, August 22nd. Bank of America lowered their price target on Cal-Maine Foods from $55.00 to $50.00 in a report on Wednesday, September 28th. Stephens lifted their price objective on Cal-Maine Foods to $67.00 in a research note on Thursday, September 29th. Finally, StockNews.com initiated coverage on Cal-Maine Foods in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock.

Cal-Maine Foods Price Performance

NASDAQ:CALM opened at $56.88 on Thursday. Cal-Maine Foods, Inc. has a 1 year low of $35.10 and a 1 year high of $62.64. The stock’s 50 day simple moving average is $57.39 and its two-hundred day simple moving average is $53.30. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 10.07 and a beta of -0.12.

Cal-Maine Foods (NASDAQ:CALMGet Rating) last released its quarterly earnings data on Tuesday, September 27th. The basic materials company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.59. Cal-Maine Foods had a return on equity of 25.55% and a net margin of 13.02%. The business had revenue of $658.34 million for the quarter, compared to the consensus estimate of $617.40 million. During the same quarter in the previous year, the company posted ($0.37) EPS. The company’s revenue was up 102.6% compared to the same quarter last year. As a group, analysts anticipate that Cal-Maine Foods, Inc. will post 8.1 EPS for the current year.

Cal-Maine Foods Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Wednesday, October 26th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Tuesday, October 25th. This represents a $3.40 annualized dividend and a dividend yield of 5.98%. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $0.75. Cal-Maine Foods’s payout ratio is currently 60.35%.

Insider Activity

In other news, Director James E. Poole sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $59.45, for a total transaction of $297,250.00. Following the transaction, the director now owns 10,909 shares of the company’s stock, valued at approximately $648,540.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.49% of the company’s stock.

About Cal-Maine Foods

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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, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, and 4-Grain brand names, as well as under private labels.

See Also

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Institutional Ownership by Quarter for Cal-Maine Foods (NASDAQ:CALM)

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