Vestcor Inc Buys 14,445 Shares of Cal-Maine Foods, Inc. $CALM

Vestcor Inc lifted its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 17.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 97,185 shares of the basic materials company’s stock after purchasing an additional 14,445 shares during the period. Vestcor Inc’s holdings in Cal-Maine Foods were worth $9,145,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new position in Cal-Maine Foods during the 3rd quarter worth $32,000. Carolina Wealth Advisors LLC purchased a new stake in shares of Cal-Maine Foods in the 3rd quarter worth $47,000. Financial Consulate Inc. purchased a new stake in shares of Cal-Maine Foods in the 3rd quarter worth $56,000. Byrne Asset Management LLC bought a new position in shares of Cal-Maine Foods during the 3rd quarter worth $66,000. Finally, Geneos Wealth Management Inc. grew its position in shares of 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 worth $67,000 after buying an additional 300 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.

Cal-Maine Foods Price Performance

Shares of CALM stock opened at $87.80 on Tuesday. The stock’s 50-day moving average is $81.89 and its 200 day moving average is $89.68. Cal-Maine Foods, Inc. has a 1-year low of $71.92 and a 1-year high of $126.40. The company has a market cap of $4.18 billion, a P/E ratio of 3.71 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Wednesday, January 7th. The basic materials company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $769.50 million during the quarter, compared to the consensus estimate of $828.46 million. Cal-Maine Foods had a return on equity of 44.55% and a net margin of 27.37%.The business’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.47 earnings per share. On average, analysts anticipate 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 given a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.3%. Cal-Maine Foods’s payout ratio is presently 12.21%.

Analyst Ratings Changes

Several research firms recently weighed in on CALM. BMO Capital Markets decreased their price objective on 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 shares of Cal-Maine Foods from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Benchmark reissued a “buy” rating on shares of Cal-Maine Foods in a research report on Tuesday, March 3rd. Finally, Stephens set a $85.00 price target on shares of 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 company’s stock. According to data from MarketBeat.com, Cal-Maine Foods presently has a consensus 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.