BI Asset Management Fondsmaeglerselskab A S Purchases 100,913 Shares of Cal-Maine Foods, Inc. $CALM

BI Asset Management Fondsmaeglerselskab A S boosted its position in Cal-Maine Foods, Inc. (NASDAQ:CALM) by 34.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 392,347 shares of the basic materials company’s stock after acquiring an additional 100,913 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cal-Maine Foods were worth $36,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc boosted its holdings in Cal-Maine Foods by 195.1% during the second quarter. IFP Advisors Inc now owns 239 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 158 shares during the period. Sound Income Strategies LLC acquired a new position in shares of Cal-Maine Foods during the 3rd quarter worth about $32,000. Carolina Wealth Advisors LLC acquired a new position in shares of Cal-Maine Foods during the 3rd quarter worth about $47,000. Financial Consulate Inc. bought a new stake in Cal-Maine Foods during the 3rd quarter valued at approximately $56,000. Finally, Geneos Wealth Management Inc. grew its holdings in Cal-Maine Foods by 80.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 671 shares of the basic materials company’s stock valued at $67,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 84.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CALM shares. Stephens set a $85.00 price target on Cal-Maine Foods and gave the stock an “equal weight” rating in a report on Thursday, January 8th. BMO Capital Markets cut their target price on shares of Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, January 8th. Weiss Ratings lowered 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 restated a “buy” rating on shares of Cal-Maine Foods in a report on Monday, January 5th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $93.00.

Cal-Maine Foods Stock Performance

Shares of CALM stock opened at $86.67 on Thursday. The firm has a fifty day moving average of $81.79 and a 200-day moving average of $93.60. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 3.66 and a beta of 0.26. Cal-Maine Foods, Inc. has a 52-week low of $71.92 and a 52-week high of $126.40.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The business had revenue of $769.50 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $4.47 EPS. On average, sell-side analysts predict that Cal-Maine Foods, Inc. will post 15.59 earnings per share for the current year.

Cal-Maine Foods Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 12th. Investors of record on Wednesday, January 28th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, January 28th. This represents a $2.88 annualized dividend and a yield of 3.3%. Cal-Maine Foods’s payout ratio is currently 12.17%.

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.