Neo Ivy Capital Management Invests $1.30 Million in Cal-Maine Foods, Inc. $CALM

Neo Ivy Capital Management purchased a new stake in shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 13,856 shares of the basic materials company’s stock, valued at approximately $1,304,000.

Other large investors have also recently modified their holdings of the company. Sound Income Strategies LLC purchased a new stake in Cal-Maine Foods during the 3rd quarter valued at about $32,000. Carolina Wealth Advisors LLC purchased a new position in Cal-Maine Foods in the third quarter worth about $47,000. Financial Consulate Inc. purchased a new position in Cal-Maine Foods in the third quarter worth about $56,000. Geneos Wealth Management Inc. lifted its stake in shares of Cal-Maine Foods by 80.9% in the second 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. Finally, Byrne Asset Management LLC purchased a new stake in shares of Cal-Maine Foods during the third quarter valued at approximately $66,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

Analyst Ratings Changes

CALM has been the subject of several analyst reports. 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. BMO Capital Markets lowered their price objective on Cal-Maine Foods from $97.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, January 8th. Stephens set a $85.00 target price on Cal-Maine Foods and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Finally, Benchmark restated a “buy” rating on shares of Cal-Maine Foods in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Cal-Maine Foods currently has an average rating of “Hold” and an average target price of $93.00.

Cal-Maine Foods Stock Up 0.5%

Shares of NASDAQ CALM opened at $89.84 on Friday. The firm’s 50-day moving average price is $81.78 and its 200-day moving average price is $90.03. Cal-Maine Foods, Inc. has a 52-week low of $71.92 and a 52-week high of $126.40. The company has a market cap of $4.28 billion, a PE ratio of 3.80 and a beta of 0.26.

Cal-Maine Foods (NASDAQ:CALM) last released its quarterly earnings data on Wednesday, January 7th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $769.50 million for the quarter, compared to analysts’ expectations of $828.46 million. Cal-Maine Foods had a net margin of 27.37% and a return on equity of 44.55%. The firm’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.47 earnings per share. As a group, equities research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current fiscal year.

Cal-Maine Foods Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Wednesday, January 28th were paid a dividend of $0.72 per share. The ex-dividend date was Wednesday, January 28th. This represents a $2.88 dividend on an annualized basis and a yield of 3.2%. Cal-Maine Foods’s payout ratio is currently 12.21%.

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.