Public Sector Pension Investment Board Boosts Position in Cal-Maine Foods, Inc. $CALM

Public Sector Pension Investment Board boosted its stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) by 16.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,992 shares of the basic materials company’s stock after buying an additional 28,124 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.41% of Cal-Maine Foods worth $18,819,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Hennessy Advisors Inc. purchased a new position in shares of Cal-Maine Foods during the third quarter worth approximately $38,063,000. Squarepoint Ops LLC grew its stake in Cal-Maine Foods by 60.1% in the second quarter. Squarepoint Ops LLC now owns 934,037 shares of the basic materials company’s stock worth $93,058,000 after purchasing an additional 350,771 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Cal-Maine Foods by 1,085.8% during the 3rd 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 purchasing an additional 237,566 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in Cal-Maine Foods by 165.6% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 291,434 shares of the basic materials company’s stock valued at $29,036,000 after purchasing an additional 181,715 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of 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 buying an additional 174,576 shares during the period. 84.67% of the stock is currently owned by institutional investors.

Cal-Maine Foods Price Performance

CALM opened at $83.44 on Friday. The firm has a market capitalization of $3.98 billion, a PE ratio of 3.53 and a beta of 0.26. The business’s 50-day moving average is $81.72 and its two-hundred day moving average is $92.50. 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 during the quarter, compared to the consensus estimate of $828.46 million. During the same quarter in the prior year, the business posted $4.47 earnings per share. The firm’s quarterly revenue was down 19.4% on a year-over-year basis. As a group, sell-side 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 declared a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Wednesday, January 28th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, January 28th. Cal-Maine Foods’s payout ratio is currently 12.21%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CALM. Stephens set a $85.00 price target on Cal-Maine Foods and gave the company an “equal weight” rating in a research note on Thursday, January 8th. 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 on the stock in a report on Thursday, January 8th. Weiss Ratings downgraded shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Finally, Benchmark reaffirmed a “buy” rating on shares of Cal-Maine Foods in a research report on Monday, January 5th. One equities research 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 presently has an average rating of “Hold” and a consensus target price of $93.00.

About Cal-Maine Foods

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.