Fisher Asset Management LLC Sells 9,440 Shares of Cal-Maine Foods, Inc. $CALM

Fisher Asset Management LLC lessened its stake in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 4.3% in the fourth quarter, HoldingsChannel reports. The firm owned 211,341 shares of the basic materials company’s stock after selling 9,440 shares during the period. Fisher Asset Management LLC’s holdings in Cal-Maine Foods were worth $16,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CALM. Northwestern Mutual Wealth Management Co. increased its holdings in Cal-Maine Foods by 3,014.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 623,571 shares of the basic materials company’s stock valued at $49,618,000 after purchasing an additional 603,551 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Cal-Maine Foods by 66.9% in the second quarter. Qube Research & Technologies Ltd now owns 435,376 shares of the basic materials company’s stock valued at $43,377,000 after acquiring an additional 174,576 shares during the period. UBS Group AG grew its stake in Cal-Maine Foods by 82.4% in the third quarter. UBS Group AG now owns 345,800 shares of the basic materials company’s stock valued at $32,540,000 after acquiring an additional 156,256 shares during the period. State Street Corp boosted its position in shares of Cal-Maine Foods by 6.8% during the second quarter. State Street Corp now owns 1,716,731 shares of the basic materials company’s stock worth $171,038,000 after buying an additional 108,578 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Cal-Maine Foods by 397.7% during the third quarter. Mackenzie Financial Corp now owns 130,269 shares of the basic materials company’s stock worth $12,258,000 after buying an additional 104,095 shares during the period. Institutional investors own 84.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. BMO Capital Markets reduced their price target on Cal-Maine Foods from $85.00 to $80.00 and set a “market perform” rating for the company in a research report on Wednesday, March 25th. Benchmark reiterated a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday. Weiss Ratings restated a “hold (c+)” rating on shares of Cal-Maine Foods in a research note on Friday, March 27th. Royal Bank Of Canada set a $100.00 price objective on Cal-Maine Foods in a research note on Tuesday. Finally, Stephens raised their target price on Cal-Maine Foods from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $94.17.

Cal-Maine Foods Stock Performance

CALM stock opened at $76.03 on Thursday. The company has a market capitalization of $3.60 billion, a P/E ratio of 5.30 and a beta of 0.28. Cal-Maine Foods, Inc. has a 52-week low of $71.92 and a 52-week high of $126.40. The business has a 50-day simple moving average of $77.66 and a two-hundred day simple moving average of $81.62.

Cal-Maine Foods (NASDAQ:CALM) last announced its earnings results on Wednesday, April 1st. The basic materials company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. Cal-Maine Foods had a return on equity of 26.05% and a net margin of 20.07%.The firm had revenue of $666.95 million for the quarter, compared to the consensus estimate of $655.82 million. During the same quarter in the previous year, the business earned $10.39 EPS. The company’s revenue was down 53.0% compared to the same quarter last year.

Cal-Maine Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $1.44 dividend on an annualized basis and a yield of 1.9%. Cal-Maine Foods’s payout ratio is presently 9.97%.

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.